Square Enix is Cutting IO Interactive Loose

Square Enix, in their latest financial results report, have revealed that they are ‘withdrawing’ from IO Interactive.

IO Interactive has had a long and storied history. Once upon a time, IO was part of Eidos Interactive and developed quite a few Hitman and Kane & Lynch titles for it’s parent company. However, in 2009, Square Enix purchased Eidos, and therefore became the owner of IO Interactive. The new owner then set the developer to working exclusively on Hitman games. However, it looks like the relationship has come to an end.

In their financial results report for the last fiscal year, Square Enix revealed that it is withdrawing from IO Interactive. The reason? To offset quite a few losses:

“The Company announced that it has decided to withdraw from the business of IO Interactive, 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”

The future of IO Interactive and Hitman remain in limbo. It is possible that Square Enix will attempt to sell the studio and make back some of it’s losses. As for the Hitman IP, it is unknown if Square Enix owns it, or if it belongs to IO. We’ll keep you updated on this situation when new information arises.