Sony to Buy Spider-Man Developer Insomniac Games. On Monday, Sony Interactive Entertainment announced a deal to purchase Insomniac Games, the hot-selling Spider-Man studio, and video games from Ratchet & Clank. Sony has not disclosed the acquisition’s financial terms that will add Insomniac to its studio stable making games exclusively for the PlayStation consoles of the Japanese consumer electronics giant.
Sony to Buy Spider-Man Developer Insomniac Games
“Insomniac Games is one of the industry’s most acclaimed development studios and their heritage of best-in-class storytelling and gameplay is unparalleled,” said Sony Interactive Entertainment Worldwide Studios chief Shawn Layden in a statement. Regulatory approval will be required for the takeover.
Around 25 years ago, California-based Insomniac founded successful video games including Ratchet & Clank, Spyro the Dragon and Resistance. According to Sony, the studio worked on Spider-Man with Sony interactive and Marvel Games, selling over 13.2 million copies worldwide.
“Practically since our beginnings, we have enjoyed a special relationship with PlayStation,” said Insomniac founder and chief executive Ted Price. “Our partnership enhances our potential and’ Spider-Man’ has been a testament to this.” Sony aims to add Insomniac to its studio stable as it prepares a new PlayStation generation.
In June, Microsoft, a U.S. technology veteran, gave the world the first glimpse of a strong Xbox next-generation that will be released late next year. The commitment to long-term market rivals consoles comes with the rise of internet cloud video games hosted as Netflix-style streamed subscription services from data centers.
The new gaming platforms are disrupting the industry by giving users the ability to avoid on disk or download consoles and game software. Five years ago, Sony launched its PlayStation Now game service, allowing titles to be streamed to its current-generation consoles or computers powered by Windows.
From November, Google is launching its Stadia game streaming service in 14 countries.
The tech platform of Stadia seeks to link individuals on PCs, tablets, smartphones and other devices for interactive play.
Apple announced plans to launch a new game subscription service later this year called Apple Arcade, with at least 100 games at its debut. Meanwhile, Microsoft has tested its game-streaming technology for Project xCloud. Adapting to the new trends will be critical for players in the massive video game industry that generated over $135 billion worldwide last year, and $43.4 billion in the US alone.