Sony acquires Insomniac Games for $229 million USD, suggests report

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Sony has paid $229 million USD to acquire Insomniac Games, Sony’s financial report suggests.

Report reads:
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.
After the huge success of PS4’s Spider-Man, Sony bought Insomniac in August 2019.

Insomniac’s Ted Price:
It feels more like a homecoming though. 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.
No further information was disclosed about Insomniac Games’ next project.
 

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