Hitman Developers In Peril As Square Enix Is Leaving Them

IO Interactive, developers of the stealth video game series ‘Hitman’ is dealt a major setback after Square Enix announced their intention of getting new investors for IO Interactive and to withdraw itself from the business, resulting a loss of $43 million in the process.

Square Enix press statement in full:

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.

hitman agent 47

Square Enix took a huge gamble on Hitman’s episodic release, offering multiple DLC content instead of a single full game. While it was well received by fans, their sales were affected greatly due to conflicting release schedule of larger game titles.

For the time being, we won’t be expecting to see any new development of Hitman anytime soon. Square Enix has also reportedly halt development of the Deux Ex series following underwhelming sales of Mankind Divided.

logo

Related posts

In-Depth Guide on Genshin Impact’s Watatsumi Island

In-Depth Guide on Genshin Impact’s Watatsumi Island


In-Depth Guide on Genshin Impact’s Watatsumi Island

Watatsumi Island is here, and fans of Genshin Impact are in for hours of fun with a new area to explore. The area is filled with beauty and detail, and there is an adventure for you to enjoy around every corner. But if this is your first time hearing of the island, you’re a bit...

What is Discord Nitro and How Do You Use It?

What is Discord Nitro and How Do You Use It?


What is Discord Nitro and How Do You Use It?

Have you signed up for your Discord Nitro subscription yet? If you haven't noticed, Discord offers multiple subscription options to its platform of over 150 million active users. A lot of people are seeing that their regular Discord has limitations. For gamers everywhere, Discord should ring...

How To Jungle in Mobile Legends Bang Bang

How To Jungle in Mobile Legends Bang Bang


How To Jungle in Mobile Legends Bang Bang

Mobile Legends Bang Bang is one of the leading MOBAs on the scene in 2021, and the game’s popularity is only increasing. People are logging into MLBB in record numbers to play with friends and enjoy fast games. Whether you’re trying to burst enemies down as Lunox or Lancelot, you have a...