Sony buys 'Spider-Man' developer Insomniac Games

More than 13.2 million copies of the Insomniac Spider-Man have been sold as of end of July.

(Reuters) - PlayStation console maker Sony Interactive Entertainment on Tuesday bought privately held Insomniac Games Inc, known for developing games such as Marvel’s “Spider-Man” and third-person shooter “Ratchet & Clank” franchise.

The deal will help the console maker, a unit of Japan’s Sony Corp, boost its game offerings ahead of the launch of rival game streaming services from companies, including Alphabet Inc’s Google, and as it prepares to unveil PlayStation 5 next year.

In its bid to maintain market share in the $150 billihere global video gaming market, Sony in March partnered with main rival Microsoft Corp, the maker of Xbox game console, to stream games and content to consumers as well as offer game makers new development tools.

Big news: @InsomniacGames is joining PlayStation’s Worldwide Studios! We are honored and thrilled to join forces with this legendary developer. Please join us in congratulating our friends and partners at Insomniac! pic.twitter.com/hhhqhxZE7k

— PlayStation (@PlayStation) August 19, 2019

Last year, it developed “Spider-Man” in partnership with Marvel Games, which is owned by Walt Disney Co. More than 13.2 million copies of the game have been sold as of end of July. Insomniac will become an exclusive PlayStation developer, Sony said.

According to the Verge, founded in 1994, Insomniac Games has worked with Sony for more than 20 years, starting with the first PlayStation.

“Insomniac Games is one of the most highly-acclaimed development studios in the industry and their legacy of best-in class storytelling and gameplay is unparalleled,” commented Shawn Layden, the chairman of Sony Interactive Entertainment Worldwide Studios. “We have enjoyed a strong collaborative partnership with the studio for many years, and are thrilled to officially welcome them to the Worldwide Studios family. The addition of Insomniac Games to SIE WWS reiterates our commitment to developing world class gaming experiences that can only be found on the PlayStation platform.”

Insomniac has yet to announce its next major project, although with the massive success of Spider-Man last year, it’s possible another PlayStation-exclusive sequel to that title could be in the works, especially given the new Sony ownership.

Insomniac will also release Stormland, an action-adventure virtual reality game for Facebook Inc’s Oculus Rift headset, later this year. Sony did not disclose the financial terms of the deal.