Sony paid $229 million for Insomniac Games – CNET

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.