Insomniac Games was purchased by Sony for $229 million, mainly in cash
What you need to know
- Sony acquired Insomniac Games in 2019.
- The purchase price has been revealed to be $229 million USD, mostly in cash.
- Insomniac Games released Marvel's Spider-Man in 2018, which has become the best-selling superhero game ever.
Back in August 2019, Sony made waves when it announced that it had bought Insomniac Games, a studio that long had ties to PlayStation. We now know exactly how much that deal cost Sony. According to an SEC filing (Securities and Exchange Commission) that was first pointed out by Daniel Ahmad, an analyst at Niko Partners, Sony purchased Insomniac Games for $229 million USD, which was mostly in cash.
$229 million isn't a small amount, especially when made mostly in cash on-hand however, it's certainly not an unsusual number. Electronic Arts acquired Respawn Entertainment in 2017 for $315 million, with a $140 million bonus being possible. Marvel's Spider-Man has sold over 13 million copies and is the best-selling superhero game of all time. This no doubt had a strong affect on the relationship between Insomniac Games and PlayStation, making both parties more agreeable to an acquisition.
With the PlayStation 5 on the way later this year, it'll be interesting to see what Insomniac Games is working on next, now that it is a part of the Sony Worldwide Studios family, which comprises 13 game development studios and some additional support teams.
Sony's acquisition of Insomniac Games is a boon to its worldwide studios and first-party portfolio
Marvel's Spider-Man is an all-new story that draws from years and years of Spider-Man comic and media history. Sling across New York, catch criminals and face off against some of Spider-Man's greatest foes.
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Samuel Tolbert is a freelance writer covering gaming news, previews, reviews, interviews and different aspects of the gaming industry, specifically focusing on PlayStation on Android Central. You can find him on Twitter @SamuelTolbert