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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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  • Shacknews legacy 10 years legacy 20 years
    reply
    May 11, 2017 1:10 AM

    Asif Khan posted a new article, Square Enix Cuts Ties With Hitman Developer IO Interactive

    • bolneze legacy 10 years
      reply
      May 11, 2017 1:15 AM

      Uh oh that sounds bad, but not sure for who?

      • r_picmip 5 legacy 10 years legacy 20 years
        reply
        May 11, 2017 3:25 AM

        Definitely for Square. IO makes great stuff; bunch of publishers are probably knocking at their door.

    • shavenewok legacy 10 years legacy 20 years
      reply
      May 11, 2017 1:41 AM

      seriously Hitman was one of the best surprises of last year. I thought they were full speed ahead with Season 2 :(

    • spazzium legacy 10 years mercury super mega
      reply
      May 11, 2017 1:53 AM

      This is super sad. Really fun seeing all the continuing DLC on that one.

    • marmite legacy 10 years legacy 20 years mercury mega
      reply
      May 11, 2017 2:36 AM

      On the possible plus side - IO are clearly a super competent team and now they won't be shackled to just creating endless Hitman games. A new IP from them could be great!

    • swimteampie legacy 10 years
      reply
      May 11, 2017 3:47 AM

      FF 15 didn't sell the 12 billion copies​ they were expecting? Like how they expected the Tomb Raider reboot to sell insane amounts.

    • nwillard legacy 10 years
      reply
      May 11, 2017 4:30 AM

      NOOOOO BUT WHAT DOES THIS MEAN FOR HITMAN SEASON 2?!? WHAT DOES THIS MEAN FOR SEASON 2 OF THE BEST HITMAN EVER???????????

      • nwillard legacy 10 years
        reply
        May 11, 2017 4:40 AM

        FOR THE LOVE OF GOD DOES ANYONE KNOW WHAT THIS MEANS FOR HITMAN SEASON TWO?!?!?!?!?!?!??!?!?!?!??!

        • Zollington legacy 10 years
          reply
          May 11, 2017 6:56 AM

          Only one mission, Agent 47 is called in to kill off the Hitman series

    • AlphaMaj legacy 10 years
      reply
      May 11, 2017 4:36 AM

      Seems like another case of Square blaming a non Japanese developer for the disappointments of their Japanese brands.

      • baron calamity legacy 10 years legacy 20 years
        reply
        May 11, 2017 6:47 AM

        The gossip is its more like IO Interactive did not want to be forced to make a Marvel game and they were planning their exit strategy from S-E for awhile.

    • greenbergMD legacy 10 years
      reply
      May 11, 2017 8:49 AM

      Somewhere I can hear Dave Lang weaping. Softly.

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