Sony Spent $229 Million to Acquire Insomniac Last Year
Today's SEC filing revealed Sony's acquisition costs for Insomniac the Ratchet & Clank and Marvel's Spider-Man developer.
In a filing made to the US Securities and Exchange Commission, Sony revealed how much it spent to acquire Insomniac Games last year. The mostly cash deal cost the PlayStation brand $229 million. A hefty price tag to bring in the long-time collaborator. However, after Marvel’s Spider-Man sold 13.2 million units last year, it’s a move that makes sense.
Sony announced the deal last August, a year after the aforementioned Spider-Man game blew up on PS4. We still don’t yet know what Insomniac is working on next; however, it would stand to reason that it will be something for Sony’s upcoming PS5 console. We have seen demos showing off speedy load times for Spider-Man on PS5-like hardware. Thus, it might make sense for a sequel to that game being their next title. Regardless, it is certainly worth watching the developer as we move closer to the PS5’s launch.
Insomniac Games was founded in 1994 and only released Sony games for its first 18 years. They created franchises like Spyro the Dragon, Ratchet & Clank, and Resistance. However, they slowly started to branch out in 2012, even releasing the Xbox One exclusive Sunset Overdrive in 2014. Now they’re officially back with Sony, which is great news for a console manufacturer about to launch a brand new unit.
Hopefully, in the coming weeks or months, we get some more information about the PS5 and Insomniac’s next game. Whether its a follow-up to their Spider-Man game, a refresh of an old IP, or something brand new, Insomniac is always a studio worth paying attention to.