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Sony bought Insomniac Games for $229 million USD

Hey, big spender...

Sony purchased Insomniac Games for $229 million USD, Sony’s latest financial report has disclosed.

“The consideration for this acquisition of 24,895 million yen (229 million U.S. dollars) was mainly paid in cash,” the report reads. “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 purchased Insomniac back in August 2019, after the huge success that was the PS4’s Spider-Man.

“It feels more like a homecoming though,” Insomniac’s Ted Price said at the time. “We’ve collaborated with Sony for more than 20 years — spanning all four PlayStation consoles, 20 total games and six franchises. We still work closely today with many of the same Sony teammates as we did when we released the original Spyro the Dragon in 1998.”

It’s unclear what Insomniac Games’ next project will be.

 

Steve Wrighthttps://www.stevivor.com
Steve's the owner of this very site and an active games journalist for the past ten years. He's a Canadian-Australian gay gaming geek, ice hockey player and fan. Husband to Matt and cat dad to Wally and Quinn.

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