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Sony paid $229 million for Insomniac Games

The maker of games like Ratchet and Clank and Marvel's Spider-Man is now wholly owned by Sony.

Corinne Reichert Senior Editor
Corinne Reichert (she/her) grew up in Sydney, Australia and moved to California in 2019. She holds degrees in law and communications, and currently writes news, analysis and features for CNET across the topics of electric vehicles, broadband networks, mobile devices, big tech, artificial intelligence, home technology and entertainment. In her spare time, she watches soccer games and F1 races, and goes to Disneyland as often as possible.
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Corinne Reichert
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The developer of Marvel's Spider-Man game was bought by Sony last year.

PlayStation

Sony  on Monday revealed that it paid 24,895 million yen, or around $229 million, to acquire Insomniac Games. Sony bought Insomniac, the maker of Marvel's Spider-Man for the PS4, Spyro the Dragon and Ratchet and Clank, in August last year, but at the time didn't say how much the acquisition was worth.

The amount was made public in Sony's financial report for the three months ended Dec. 21, 2019, and reported earlier Monday by Polygon. It was paid mainly in cash, Sony said, but the amount could be adjusted by the end of the financial year ending March 31.

"Insomniac Games has become a wholly-owned subsidiary of Sony," Sony's financial report says.

Insomniac joined PlayStation's Worldwide Studios at Sony Interactive Entertainment. "We are honored and thrilled to join forces with this legendary developer," PlayStation tweeted last year. "Please join us in congratulating our friends and partners at Insomniac!"

Ted Price, Insomniac Games CEO, said it felt like "a homecoming" because Insomniac has "collaborated with Sony for more than 20 years, spanning all four PlayStation consoles, 20 total games and six franchises."

Insomniac's Marvel's Spider-Man was launched in September 2018, with CNET sister site GameSpot choosing it as one of the best games of 2018.

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