Sony acquires Insomniac Games Inc for undisclosed amount

Insomniac Games Inc is known for developing the Spider-Man game of which 13.2 million copies have been sold as of the end of July 2019.

Sony Interactive Entertainment disclosed it would acquire privately held Insomniac Games Inc, known for developing games such as third-person shooter “Ratchet & Clank” and Marvel’s “Spider-Man” for an undisclosed amount.

The deal will help Sony Interactive Entertainment, a unit of Japan’s Sony Corp, to boost its game offerings ahead of the launch of rival game streaming services from companies, including Alphabet Inc’s Google; Sony Interactive is also preparing to launch PlayStation 5 in 2020.

Earlier this year in March, in a bid to maintain its market share in the $150 billion global video game market, Sony had partnered with Microsoft Corp, its main rival in the console gaming market, to stream games and content to consumers; the partnership also offered game makers new development tools.

Founded in 1994, Insomniac Games has collaborated with Sony for more than 2 decades, starting from the the first PlayStation. It went on to develop the “Spider-Man” game in partnership with Marvel Games, which is owned by Walt Disney Co.

As of the end of July 2019, more than 13.2 million copies of Spider-Man, have been sold.

Later this year, Insomniac is scheduled to release Stormland, an action-adventure virtual reality game for the Oculus Rift platform.

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