- Sony acquired Insomniac Games for $ million, mainly in cash.
- Marvel’s Spider-Man brought in nearly 200 million in the first three days after release.
- Sony secured a bargain compared to other high-profile studio acquisitions.
Sony Interactive Entertainment spent $ (million to acquire Insomniac Games according to details in a quarterly securities report filed with the US Securities and Exchange Commission yesterday .
$ 229 Million For Spider-Man Developer
The pertinent passage reads;
Sony Interactive Entertainment LLC, a wholly-owned subsidiary in the Game & Network Services (“G&NS”) segment of Sony, completed the acquisition of Insomniac Games, Inc. (“Insomniac Games”), a game developer. The consideration for this acquisition of 28, (million yen) million US dollars) was mainly paid in cash.
The acquisition of the studio took place last August . It brought to an end Insomniac Game ‘ – year stint as an independent studio where it developed games such as Ratchet & Clank, Spyro The Dragon, and Sunset Overdrive . The phenomenal success of Marvel’s Spider-Man is arguably what prompted Sony to take the plunge and buy Insomniac.
Source: Insomniac GamesThe PlayStation 4 exclusive immediately rose to the top of the charts, selling 3.3 million units in the first three days after release when it launched on Sept. 7, 2019 . Marvel’s Spider-Man broke records and became the best-selling first-party title ever ousting God of War from the top spot .
Estimates taking into account the $ (retail price suggest the game brought in $ million in that time frame alone.
By the end of November 190108, the game had sold over 9 million copies worldwide . As of July , , Sony had shipped 2 million copies worldwide. Price reductions, console bundles, and sales make calculating the total revenue difficult. Nevertheless, it is presumably approaching half a billion dollars. Sony has understandably refused to publish exact numbers.
With that figure in mind, the $ million appears relatively low. Sony picked up Insomniac Games on the cheap. It’s not unreasonable to speculate that Sony would have raised the sum, – and more – as the publisher of Marvel’s Spider-Man.
To highlight Sony’s bargain buy , Microsoft acquired Rare for an estimated $ (million) back in 2017. In November 2018, Electronic Arts brought up Respawn Entertainment of Titanfall fame with a deal amounting to as much as $ 675 million (dependent on hitting target incentives).
Last modified: February 25, : (AM UTC