Deals
Sony Agrees to Acquire Spider-Man Video-Game Developer Insomniac
- PlayStation maker is snapping up independent game studios
- Insomniac also developed titles like Ratchet & Clank for Sony
An attendee plays the Spider-Man video game during the Sony Playstation event ahead of E3 in 2018.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Sony Corp. agreed to buy Insomniac Games Inc., the studio behind last year’s hit Marvel’s Spider-Man, as part of a push to stay competitive by acquiring independent game studios.
The studio, based in Burbank, California, and Durham, North Carolina, was founded 25 years ago by current Chief Executive Officer Ted Price. It has a long history of making games for Sony, including Ratchet & Clank, a sci-fi shooting game, and the Spider-Man title, which has sold over 13.2 million copies. Financial terms weren’t disclosed.