IO Interactive Becomes An Independent Studio, Keeps Ownership Of 'Hitman' Franchise

Square Enix announced last month that it was parting ways with IO Interactive (IOI), the developer of the “Hitman” series. Now, IOI has announced that it is now an independent studio after it negotiated a management buyout with Square Enix.

“We have successfully concluded our negotiations with Square Enix and have agreed to a management buyout. Crucially, we will keep all of the rights to the Hitman IP,” IO Interactive CEO Hakan Abrak said.

“As of today, we have complete control over the direction for our studio and the ‘Hitman’ IP – we’re about to forge our own future and it’s incredibly exciting. We are now open to opportunities with future collaborators and partners to help strengthen us as a studio and ensure that we can produce the best games possible for our community.”

Abrak also said that IO Interactive is now open to “future collaborators and partners” to create the best games possible for the community. The CEO also took the time to thank all of its supporters, its players and the community. He also thanked Square Enix and said that it was “a great family to be a part of” and that they are proud of what they’ve achieved together in the last eight years.

IO Interactive started out in 1998 as an independent company, and was purchased by Eidos Interactive in 2003. IOI became part of Square Enix when Eidos was acquired by Square Enix in 2009, according to GameIndustry.biz.

When Square Enix announced that it was letting go of IOI, there was plenty of speculation surrounding the future of the studio. Some thought that IOI would simply be sold to another company, and that the “Hitman” series and other IPs might be sold to interested buyers.

Square Enix reported a loss of $42 million when it announced that it was dropping IO Interactive, and ceasing all development of ongoing projects. Square Enix and IO Interactive worked on two major “Hitman” titles since 2009. The first was 2014’s “Hitman: Absolution” and 2016’s “Hitman.” Square Enix also published two mobile game with the “Hitman” IP, one which even made its way to console and the PC.

Now that IO Interactive is independent, and wholly owns the “Hitman” IP, it’s now free to continue working on the on the franchise. The 2016 “Hitman” game arrived with a seasonal release model wherein “episodes” are released to add to the game’s content.

Season 1 of “Hitman” concluded with seven episodes, and IO Interactive’s original plan was to release two more seasons. With today’s announcement, it looks like IOI isn’t done adding new content for the 2016 game.

“We are counting on the continued support of all our players; simply by having fun with everything we’ve released so far for ‘HITMAN’ – and we want to encourage more of you to try our game. We have more details to come on our plans for that next week,” Abrak said.

IO Interactive is also free to produce a new entry into the “Hitman” franchise, but it will need new partners to make that happen.