I’m pretty sure they do and can:
Square Enix has announced the shock decision to sell Hitman developer IO Interactive, putting the future of the much-loved stealth series in doubt.
In a note to investors, the Japanese corporation warned of a £33m extraordinary loss in its financial results for the year ending 31st March 2017. The cause of this loss is the planned sale of the Danish studio.
Here’s Square Enix’s statement:
“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 said it has started discussions with potential new investors and is currently in negotiations to secure this investment, but there can be no guarantees that the negotiations will conclude successfully. Based on the wording of Square Enix’s note, it seems if a buyer can not be secured, IO will be shut down.
IO Interactive A/S (stylised as Io-Interactive, short IOI) is a Danish video game developer based in Copenhagen, Denmark, and owned by Square Enix Europe, a subsidiary of Square Enix. The company was founded under the name ASX Nr. 14.811 ApS on 1 November 1990, and became Mermaid Invest ApS on 24 May 1992. On 16 September 1998, the Reto-Moto development group turned the company into IO Interactive ApS, and into IO Interactive A/S on 14 April 2000. They are best known for the Hitman series.