Sony has reported on the cost of acquiring Insomniac Games. It's certainly a lot of money, but it's nowhere near what Star Citizen has raised so far.
If you're somehow unfamiliar with Insomniac Games, then you've probably never owned a PlayStation console. While they have their fair share of multiplatform releases, they've largely focused on putting out games for Sony's gaming systems.
The most recent release for the PS4 was the smash hit Marvel's Spider-Man, a game that's had rather excellent reception. Their history is also packed with fantastic franchises like Rachet & Clank, Resistances, and Spyro the Dragon. Buying up the company behind all of these games must have cost Sony a pretty penny; the question is, how much was it?
What Did the Insomniac Games Acquisition Cost Sony?
Details of the pricing were revealed in an SEC filing as reported by Niko Partners Senior Analyst Daniel "@ZhugeEX" Ahmad. Here's a portion of the relevant section:
On November 15, 2019, 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 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.
$229 million is no small chunk of change, even for a massive corporation like Sony. However, that still pales in comparison to the funds behind Star Citizen. Roberts Space Industries has collected over $267 million at the time of writing — and that only counts their income from crowdfunding.
With nearly three dozen games created in almost 25 years, Insomniac Games is a hell of a steal at $229 million. Let's hope Sony can make something of the acquisition.
What do you think of Sony spending nearly a quarter of a billion buying Insomniac Games? Would you prefer to own Insomniac Games or the Star Citizen developers? Let us know in the comments below!
