News broke today that sent ripples through the gaming world.
Playstation has reportedly acquired video game developer Insomniac Games. Insomniac is responsible for creating classics like Spider-Man 4, Spyro the Dragon, as well as Ratchet and Clank. Insomniac CEO, Ted Price had this to say regarding the acquisition.
“We’ve collaborated with Sony for more than 20 years, spanning all four PlayStation consoles, 20 total games, and six franchises. We still work closely today with many of the same Sony teammates as we did when we released the original Spyro the Dragon in 1998.”
According to C-Net, Insomniac Games will maintain it’s headquarters in Burbank and Durham, NC. This acquisition comes at a great time for Playstation. The gaming industry is on pace to generate a market value of $300 billion by 2025. In 2018 alone, the industry generated $131 billion. Those folks at Playstation have their heads on straight, it’s more than smart to bulk up their resources in game development.
Building on a working relationship between Insomniac Games and SIE spanning more than 20 years, this acquisition enhances the creative force within SIE WWS and formally adds a studio to the PlayStation family that continues to raise the bar on open world, story-driven games. The day-to-day operations of Insomniac Games post-closing of the acquisition are expected to be run by the current management team in conjunction with SIE WWS San Mateo Studio. Completion of the acquisition is subject to regulatory approvals and certain other closing conditions. Financial terms of this transaction including the acquisition cost are not disclosed due to contractual commitments,” the press release states.
What better way to acquire one of the most impactful game development companies and have them create games exclusively for your company? Gamers worldwide can’t wait to see what comes of this match made in heaven.