Connect with us

Hi, what are you looking for?

News

Square Enix Withdraws From IO Interactive

Square Enix have announced they have withdrawn from their internal studios IO Interactive and have started negociations with potential new investors to keep that studios alive. IO Interactive are most known for the Hitman series.

You can read the full statement from Square Enix down 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, [Square Enix] 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 [Square Enix] 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.

Advertisement. Scroll to continue reading.

You May Also Like

Uncategorized

IO Interactive have announced they have officially opened a new studio in Barcelona Spain. Known as IO Interactive Barcelona, this company will be working...

News

In what has been discovered after going under the radar for four days, Playstation Game Size revealed on Twitter that IO Interactive’s upcoming Hitman...

News

Thanks to a new rumored leak, we have learned that is believed to be all of the locations you will visit in IO Interactive’s...

News

IO Interactive have released a new trailer for their upcoming game Hitman III. This trailer showcases some gameplay using Playstation VR. Hitman III releases...

Advertisement