It was in August last year when Sony moved to acquire Insomniac Games as a wholly-owned subsidiary under the official PlayStation banner. The entire acquisition was completed in November, three months after, for an undisclosed amount. Based on a recent update, the entire deal was a steal for Sony.
According to a recent SEC filing, Sony paid ¥24,895 million (or about $229 million) to acquire Insomniac Games as an internal PlayStation studio, the fourteenth one and after a long time. Most of that amount was paid in cash and will be adjusted by the end of the fiscal year ending March 31, 2020.
Sony Interactive Entertainment paid $229 million, mainly in cash, for Insomniac Games in November 2019.
— Daniel Ahmad (@ZhugeEX) February 10, 2020
Insomniac Games is known for several iconic franchises like Spyro, Ratchet & Clank, and Resistance. The California-based studio is also known for Sunset Overdrive as well as the most recent and critically acclaimed Marvel’s Spider-Man, which had sold over 13.2 million copies by the time Sony had started the acquisition. Spider-Man was not just a PlayStation 4 exclusive but also the most successful game from the studio as well as the most successful game on the console in 2018. It’s actually surprising that Insomniac Games let go at such a price. In comparison, Electronic Arts had to pay more than $400 million for Respawn Entertainment, the studio behind Titanfall and Apex Legends.
Insomniac Games is strongly believed to be working on another Spider-Man installment for the next-generation PlayStation 5 console. There have also been some hints pointing at a Sunset Overdrive sequel. Following the acquisition though, as well as running the numbers, chances are that the studio is bringing back the web-crawler. In fact, Sony would have wanted Marvel’s Spider-Man 2 to be a launch title for PlayStation 5. Unfortunately, with the original releasing just last year, Insomniac Games was never going to have enough time to pump a sequel so fast. Even now, many believe that Marvel’s Spider-Man 2 will release for PlayStation 5 somewhere in 2022 based on a three-year development cycle.