One of the news that attracted most attention last year in the gaming world was that Sony Interactive Entertainment bought Insomniac Games, a studio known for its work on Marvel’s Spider-Man, Ratchet & Clank, Sunset Overdrive and the Resistance series, also known as one of the top gaming console manufacturers selling over 22 million PS5 units. At that time it was a true mystery how much money Sony paid for the developer, but this information was revealed in a recent report.
In a report published by the United States Securities and Exchange Commission (via Daniel Ahmad), Sony Interactive Entertainment revealed that it paid $229 million for the purchase of Insomniac Games. According to the company, most of this figure was paid in cash.
In the report, Sony Interactive Entertainment noted that this figure will be adjusted to its books for the fiscal year ending March 31, 2020. It also confirmed that as a result of the transaction, Insomniac Games became a wholly-owned subsidiary from Sony since November 15, 2019.
“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.”
In case you don’t remember it, Sony Interactive Entertainment announced that it acquired Insomniac Games on August 19, 2019, the date when gamescom 2019 was being held. With this, the company joined PlayStation Global Studios and now only will devote to developing projects that will be distributed by Sony.
And you, what do you think about it? Do you think it will be an investment that will be worth it? Tell us in the comments below.