Companies were offering a single dollar for Hitman dev IO Interactive when Square Enix was looking to offload it-
It might be strange to recall after Hitman 3’s stonking success, but series developer IO Interactive was in a very precarious situation not so long ago. When 2016’s Hitman failed to please IOI’s owners at Square Enix, the corporation began scrabbling around looking for someone to take the studio of its hands.
We know how that turned out—thankfully, IOI eventually managed to buy itself out from under Square—but a recent feature in Edge magazine has cast a little light on just how much worse things could have been for Hitman and IOI in general. We’re talking free-to-play Hitman, companies-offering-$1-for-the-whole-studio levels of grim.
“I didn’t even have 90 days into taking over [as CEO],” IOI CEO Hakan Abrak told Edge, “and then I got the call from [Square Enix president] Matusda-san: ‘We have to divest IO’.” It came as a shock, but the nasty arithmetic of it all shook out. “Looking at the books, IO had not made money for almost ten years in a row” by the time Square Enix started looking to divest it, said Abrak, and that fact made acquiring it an unappealing prospect for other potential owners.
“Some companies would offer $1 to take over IO,…
Continue Reading