Major companies have invested billions of dollars to acquire some of the most talented studios in the industry. However, there are also true horror stories where certain companies sought to buy an iconic studio for a ridiculous figure.
We're referring to IO Interactive, which went through some pretty dark times before managing to become independent, once Square Enix decided to get rid of the studio and its stellar franchise: HITMAN. Hakan Abrak, the company's executive manager, revealed that Square Enix wanted to get rid of them and that there were even offers to buy them out for only $1 USD.
IO Interactive received ridiculous buyout offers
Currently, IO Interactive is in a much better position thanks to the success of HITMAN 3. So now it is working on titles like Project 007 and Project Fantasy. However, a few years ago he was on the verge of collapse.
Abrak revealed that it was a complicated time when the president of Square Enix notified him about their plans to divest IO Interactive. The Japanese company had difficulty finding potential buyers, as records showed that IO Interactive had not been making a profit for years.
This caused the studio to be unattractive to potential investors and receive ridiculous buyout offers. "Some companies would offer $1 to take over IO, because of the responsibilities and running costs," Abrak confessed.
He also revealed that other alternatives were to make HITMAN free-to-play or downsize the studio to one-fifth of its original size. Abrak opposed all of these options and, in the end, won independence for the studio, but not for $1 USD.
"We couldn't pay anywhere near what, potentially, a big company could (...) we came up with a deal where [Square Enix] kept a minority part, kind of a lottery ticket for them," the developer finished.
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