Sony Interactive Entertainment, a San Mateo, California-based global leader in interactive and digital entertainment responsible for the PlayStation® brand and family of products and services, is to acquire Insomniac Games, Inc., the Burbank, California, and Durham, North Carolina-based developer of PlayStation®4’s (PS4™) games.
The financial terms of this transaction including the acquisition cost are not disclosed due to contractual commitments.
Completion of it is subject to regulatory approvals and certain other closing conditions.
Upon completion of the deal, Insomniac Games will join the global development operation of Sony Interactive Entertainment Worldwide Studios.
Building on a working relationship between Insomniac Games and SIE spanning more than 20 years, this acquisition formally adds to SIE a studio to the PlayStation family that continues to make open world, story-driven games.
This is the 14th studio to join the SIE WWS family.
Led by Ted Price, founder and CEO, Insomniac Games is the studio behind many of PlayStation’s most highly-successful franchises, including Marvel’s Spider-Man and the PlayStation® Ratchet & Clank franchise Spryo the Dragon, Ratchet & Clank, and Resistance.
Spider-Man has sold through more than 13.2 million copies worldwide as of July 28, 2019.
The day-to-day operations of Insomniac Games post-closing of the acquisition are expected to be run by the current management team in conjunction with SIE WWS San Mateo Studio.
A wholly-owned subsidiary of Sony Corporation, Sony Interactive Entertainment is the global leader in interactive and digital entertainment responsible for the PlayStation® brand and family of products and services including PlayStation®4, PlayStation®VR, PlayStation®Vita, PlayStation®3, PlayStation™Store, PlayStation®Plus, PlayStation™Video, PlayStation™Music, PlayStation™Now, PlayStation™Vue, and software titles from SIE Worldwide Studios.
It has global functions in California, London and Tokyo.