In a note to investors, Square Enix has warned of a £33m extraordinary loss in its results for year ending 31st March 2017. With the losses suffered, the sale of developer IO Interactive is now becoming a result.
The first season of the Danish developer’s most recent game, Hitman, was originally sold as an episodic title before being bundled on disc. IO have continued to support the game, and an imminent second season was widely anticipated. Unfortunately, it appears that sales of Hitman may have been insufficient in the eyes of Square Enix – who recently retired the Deus Ex franchise following lower than expected sales of the most recent entry, Deus Ex: Mankind Divided. Here is what Square Enix had to say about the issue:
“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 are reported to be in negotiations to secure future investment, but at this point it cannot be known whether or not they will conclude successfully. It certainly reads as though IO Interactive will close if no buyer can be found.
Will you miss the output of IO Interactive? Did you play Hitman? Did you enjoy the episodic approach it took? Let us know in the comments below.