IO Interactive for Sale While Square Enix Post Record Profits
Bohs Hansen / 10 months ago
Square Enix is currently negotiating with potential investors to buy Hitman developer IO Interactive. That news comes as a surprise, but IO Interactive’s fate was sealed a couple of months ago. The note to investors informing about the sale was released today, May the 11th, but the Square Enix dropped IO Interactive as of March 31, 2017.
“To maximise 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.”
Hitman Absolution wasn’t the biggest hit, and it sold under expectation. The reinvention of Hitman to be an episodal game might have carried that aspect on to the new game. The game was great, but most people I know waited until all episodes were released and then got the package on sale rather than getting them as they were released. So while it was a great
So while Hitman 2016 is a great game, it didn’t live up to Square Enix’s expectations. What happens to the IP that is Hitman now is anyone’s guess. It will most likely stay with Square Enix, but what will they do with it? Only time will tell.
The end of the partnership does explain why we haven’t heard more of Hitman season 2 for a while.
Record Profits for Square Enix
While Square Enix didn’t make a killing on IO Interactive, the rest of their business did very well. The company announced that the financial year ending on 31st of March 2017 saw record profits. Square Enix saw net sales increase by 20% over the previous rear, reaching £1.7bn. The operation income grew by 20.3% while the ordinary income rose 22.9 %.