Square Enix looking to sell off Hitman developer IO Interactive

It appears as though Square Enix is looking to sell off the Hitman developer, IO Interactive, nearly three months after releasing Hitman: The Complete First Season. This bundle wrapped up all of the episodes released for Hitman throughout 2016.

Square Enix never disclosed the official sales figures for the episodic Hitman that released last year, but the company did report a $43 million loss at the end of the last financial year, which ended March 31, 2017. With this loss revealed, Square released a note to investors.

Here's Square Enix's statement:

"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, 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."

Square Enix has already begun discussions with potential investors, saying:

"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."

If Square Enix is unable to sell IO Interactive there's a chance it will be shut down, which is unfortunate, considering last year's Hitman was pretty great.

IO Interactive has been hard at work on the Hitman series since its founding in 1998. The debut Hitman game released in 2000 and shortly after, in 2003, Eidos Interactive acquired the studio. Once Eidos had IO Interactive, Square Enix rolled in and bought Eidos in 2009.

Since then, IO Interactive has maintained its efforts with the Hitman franchise (as well as some other games).

[GI.biz]