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Square Enix Cuts Ties With Hitman Developer IO Interactive

"To maximize player satisfaction as well as market potential going forward."
Asif Khan
Asif Khan
15

Square Enix reported more than just their quarterly earnings report this morning. The company has announced in a Notice of Booking of Extraordinary Loss attached to their quarterly report that they have ended their relationship with IO Interactive, developer of Hitman.

"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.

Square Enix also stated that they are interested in doing what is best for the studio and their intellectual property.

"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."

Square Enix also booked a $43 million extraordinary loss for the fiscal year ending March 31, 2017. Fans of the Hitman series must now wait and see if anyone will come to IO Interactive's rescue. 

CEO/EIC/EIEIO
CEO/EIC/EIEIO

Asif Khan is the CEO, EIC, and majority shareholder of Shacknews. He began his career in video game journalism as a freelancer in 2001 for Tendobox.com. Asif is a CPA and was formerly an investment adviser representative. After much success in his own personal investments, he retired from his day job in financial services and is currently focused on new private investments. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif first frequented the Shack when it was sCary's Shugashack to find all things Quake. When he is not immersed in investments or gaming he is a purveyor of fine electronic music. Asif also has an irrational love of Cleveland sports.

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