Last year, PlayStation fans were overjoyed to hear that Sony Interactive Entertainment would be acquiring Insomniac Games and bringing the acclaimed studio into its first-party family. The companies have had a close-working relationship for some time, so the news wasn’t too surprising – but what wasn’t clear was how much Sony spent on the acquisition.
Thanks to Sony’s latest Quarterly Securities Report, which was published yesterday, we now know how much Insomniac cost: an impressive $229 million, paid in cash, no less.
“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.”
Sony announced the acquisition on August 19 last year. It isn’t clear what compelled Sony to finally buy Insomniac, but the massive success of Marvel’s Spider-Man might have had something to do with it. The PlayStation 4 exclusive released in September 2018 to rave reviews and has sold more than 13 million copies since July 2019.
Insomniac Games is also responsible for the fan-favorite Spyro the Dragon, Ratchet & Clank, and Resistance franchises. While a Spyro sequel is unlikely (the series is now owned by Activision Blizzard), remastered versions of the original games were released for the PC, PS4, Xbox One, and Switch as part of 2018’s Spyro Reignited Trilogy.
According to a report from December, Insomniac’s next game is Spider-Man 2 for the PlayStation 5. Kinda Funny Games’s Imran Khan claimed that it would be released “sooner than we think.”