Square Enix has introduced intentions to divest possession of IO Interactive, the Danish studio behind the Hitman sequence.
In a statement to its investors, the Japanese writer reported what it described as an “extraordinary” $42 million loss for the monetary 12 months ending March 31, 2017. This is a consequence of the corporate’s resolution to to slender its concentrate on key franchises and studios.
“To maximize player satisfaction as well as market potential going forward, we are focusing our resources and energies on key franchises and studios,” it stated within the assertion. “As a consequence, the corporate has regrettably determined to withdraw from the enterprise of [IO Interactive], an entirely‐owned subsidiary and a Danish company, as of March 31, 2017.
“This resolution has resulted in reserving of the extraordinary loss amounting to four,898 million yen, together with disposition of the content material manufacturing account associated to the enterprise and impairment loss of intangible property, within the monetary outcomes for the fiscal 12 months ended March 31, 2017.”
The assertion signifies that the loss comes not solely from its resolution to dump IO Interactive, but in addition stop manufacturing on its ongoing initiatives, which possible consists of extra Hitman episodes. Square Enix went on to state it has begun discussions with new buyers that might probably buy IO Interactive.
“Whilst there might be no ensures that the negotiations might be concluded efficiently, they’re being explored since that is in the perfect pursuits of our shareholders, the studio and the trade as a complete.”
The wording does not present any assurance on the long run of IO Interactive if a brand new investor is not secured, although it might imply the studio is closed and its employees displaced. Furthermore, it is unclear whether or not the sale of IO Interactive would additionally embody mental properties for any of the video games it has developed.
In August of final 12 months, IO Interactive stated it was planning to release two more seasons worth of Hitman content. However, splitting the property from its developer might imply this by no means involves fruition. Of course, it may be new investor is ready to negotiate the acquisition of the property together with the studio.
The information comes as a shock, given the constructive response to Hitman and the thrill for extra of it. Additionally, IO Interactive recently rebranded itself and moved to a new studio in Copenhagen.
For it is half, IO Interactive indicated it’s staying centered on growing video games amidst the uncertainty.
@NEOkeitaro Thanks for tweeting us. There’s quite a bit occurring proper now and we’ll have extra to say at a later level. For now, again to creating video games.
— Io-Interactive (@IOInteractive) May 11, 2017
Square Enix turned IO Interactive’s guardian firm when it acquired Eidos Interactive in 2009. In addition to Hitman, the studio is understood for growing the Kane & Lynch sequence, in addition to underrated action-adventure recreation Mini Ninjas. A job itemizing noticed in February additionally indicated IO Interactive was working on a new IP.