Sony paid $229 million for Spider-Man developer Insomniac Games

Sony paid a substantial amount to pull Insomniac Games into its first-party stable.

@DeekeTweak
Published Mon, Feb 10 2020 3:19 PM CST   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Back in August, Sony bought Insomniac and all of its associated IPs for an undisclosed sum. Now thanks to a recent company SEC filing, we know how much the PlayStation titan shelled out.

Sony paid $229 million for Spider-Man developer Insomniac Games | TweakTown.com

Sony Interactive Entertainment spent roughly $229 million to acquire Insomniac Games in 2019, new SEC filings confirm. The buyout was mostly paid in cash, and could change slightly by March 2020. This may sound like a lot, but Sony's gaming branch made $5.6 billion in the Holiday 2019 quarter, and routinely pulls in billions every three months. The acquisition cost will pay for itself over time via new system-selling Insomniac titles.

"The consideration for this acquisition of 24,895 million yen (229 million U.S. dollars) was mainly paid in cash. The amount may be adjusted by the end of fiscal year ending March 31, 2020, based on the final closing date financial statements of Insomniac Games. As a result of this acquisition, Insomniac Games has become a wholly-owned subsidiary of Sony," reads the filing.

Reports say Insomniac is currently working on multiple new games for the PlayStation 5 including a Spider-Man sequel, as well as a new Ratchet and Clank platformer for the next-gen system. Nothing has officially been confirmed so far, but Sony should announce new details on Insomanic's next projects during the PS5's reveal event.

Buy at Amazon

Marvel's Spider-Man - PlayStation 4

TodayYesterday7 days ago30 days ago
$33.50$32.81$32.99
* Prices last scanned on 9/23/2020 at 11:36 pm CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:sony.net

Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

Related Tags

Newsletter Subscription

Latest News

View More News

Latest Reviews

View More Reviews

Latest Articles

View More Articles