Login

Square Enix parts ways with IO Interactive


In a brief statement today, Square Enix announced that it is withdrawing from the business of IO Interactive, developers of Hitman. You can read their press release below:

To maximize player satisfaction as well as market potential going forward, we are focusing our resources and energies on key franchises and studios. As a result, the Company has regrettably decided to withdraw from the business of IO INTERACTIVE A/S, a wholly‐owned subsidiary and a Danish corporation, as of March 31, 2017. This decision has resulted in booking of the extraordinary loss amounting to 4,898 million yen, including disposition of the content production account related to the business and impairment loss of intangible assets, in the financial results for the fiscal year ended March 31, 2017.

As a result of this the Company started discussions with potential new investors and is currently in negotiations to secure this investment. Whilst there can be no guarantees that the negotiations will be concluded successfully, they are being explored since this is in the best interests of our shareholders, the studio and the industry as a whole.


Games: Hitman

Comments

You can be first to reply!

Want to join this discussion?

You should like, totally log in or sign up!