Sony purchased Insomniac Games for $229 million

By Sean Carey,
Last year, Sony purchased Insomniac Games who are known for developing Marvel's Spider-Man and iconic series such as those of Ratchet and Clank and Spyro the Dragon. In a recently translated Securities and Exchange Commission (SEC) filing, it's been revealed that Sony paid a sum of $229 million (¥ 24,895 million) for the developer.

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According to the report, it says that Sony acquired the developer for $229 million which was "mainly paid in cash" and the amount could be adjusted by the end of the fiscal year in March. This purchase makes Insomniac the14th studio owned by Sony Interactive Entertainment.

Sony and Insomniac have had a close working relationship where they have collaborated together for more than 20 years, across all four PlayStation consoles. At the time of the acquisition in August last year, CEO of Insomniac, Ted Price said, "The decision to join forces with Sony extends far beyond familiarity. Our studio vision is to create experiences that have a positive and lasting impact on people’s lives. As we look ahead to our future, we know that joining the WWS family gives us the best opportunities to fully achieve that vision on a much larger scale. Further, we believe that Sony shares a similar vision to positively impact players’ lives, their employees’ lives and the games industry at large.

"Today merely marks the beginning of a new chapter in our studio’s growth and evolution."

Shawn Layden, who at the time was Chairman of SIE WWS said, “Insomniac Games is one of the most highly-acclaimed development studios in the industry, and their legacy of best-in-class storytelling and gameplay is unparalleled. We have enjoyed a strong collaborative partnership with the studio for many years, and are thrilled to officially welcome them to the Worldwide Studios family."

As of July 2019, Marvel's Spider-Man had sold more than 13.2 million copies.

Source: Gamesindustry.biz
Sean Carey
Written by Sean Carey
Hey everyone! I'm Sean. I have been writing gaming content for various outlets over the past few years while studying a degree in Journalism. I grew up on everything PlayStation — mainly Metal Gear Solid, with a brief foray into the world of Xbox. Nowadays, you'll find me mainly playing multiplayer PC games such as Mordhau, but with the recent addition of the Xbox Games Pass for PC, I'm looking forward to improving my TA Score and completion percentage!