Square Enix released their latest financials today which included a note stating they to sell off IO Interactive, creators of the HITMAN series.
Square has reported an “extraordinary loss” which has led to the offloading of IO. The statement reads:
“In addition, the Company announced that it has decided to withdraw from the business of IO INTERACTIVE A/S, a wholly-owned owned subsidiary of the Company and a Danish corporation, as of March 31, 2017, and that the decision has resulted in booking of the extraordinary loss amounting to 4,898 million yen in the financial results for this Fiscal Year.
“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”.
It’s unclear what the outcome will be but unless a buyer is found, IO Interactive and the HITMAN series could be in trouble. The latest installment of HITMAN has been excellent so let’s hope IO Interactive can continue.