Sony Interactive Entertainment had to disburse more than 200 million dollars to close the transaction. A vital movement for PlayStation.
Sony Interactive Entertainment paid $ 229 million to close the purchase of Insomniac Games last August 2019. The information, never shared with explicit details by the Japanese company, has now come to light through a latest report Financial statement published by the United States Securities and Exchange Commission.
According to the information broken down in the document, it was in November when the acquisition was completed, which leads the technology giant to take over most of the total shareholding of the company founded by Ted Price in Burbank, California, back in 1994, as planned from months ago. Other companies like Microsoft bought Rare at the time in 2002 for $ 375 million; o Electronic Arts with Respawn Entertainment in 2017 for $ 315 million.
Insomniac Games
The bureaucratic and legal processes are not over, however, as it will not be until March 31, 2020 when the amount is adjusted to Sony's account books. The result of the movement is that Insonmiac Games becomes a subsidiary of Sony; in other words, for practical purposes, a first PlayStation party.
Since that Disruptor for PlayStation in 1996, the company has maintained a very close relationship with Sony, but it did not become a company under the ownership of SCEI until now; even some employees perplexedly received the news that they were going to become part of the PlayStation because they thought they already were. Spyro the Dragon, Ratchet and Clank, Resistance, Sunset Overdrive and, above all, Marvel’s Spider-Man, stand out in the library of titles developed so far in those offices.
Marvel’s Spider-Man | Insomniac Games
One of the most important movements in recent history on PlayStation
Shawn Layden, former head of Sony Interactive Entertainment Worldwide Studios since last October, described as one of the greatest achievements of his career having been one of those responsible for the purchase of Insomniac Games by PlayStatio last August after long talks.
But now what? The future is uncertain within a Sony that already thinks about the next generation of consoles, for them PlayStation 5. As far as Insomniac Games are concerned, they are already working on their next video game after Marvel's Spider-Man for PS4, which exceeds 13 , 2 million units sold worldwide. We do not know yet what they have in hand, if it is a single game or if they have several titles underway. In any case, there is a certainty: it will be exclusive to PlayStation.
Sony has been open to buy more studios after Insomniac Games.
