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Sony is buying 'Spider-Man' and 'Ratchet & Clank' developer Insomniac Games

Key Points
  • The acquisition follows a more than 20-year relationship between the two companies.
  • Sony wants to build on its success with exclusive titles to rival Microsoft's Xbox console.
  • It also comes as speculation grows over Sony's next-generation console.
Marvel Spider-Man signage is seen at the Sony Corp. PlayStation booth during the E3 Electronic Entertainment Expo in Los Angeles, California, U.S., on Tuesday, June 12, 2018.
Troy Harvey | Bloomberg | Getty Images

Sony's gaming division announced late Monday that it will buy U.S. video game developer Insomniac Games.

The acquisition follows a more than 20-year relationship between the two companies on a host of popular games exclusive to Sony's PlayStation console, including "Spider-Man," "Rachet & Clank" and "Resistance."

Sony Interactive Entertainment (SIE) said the company would be run by current management and SIE's video game development arm in San Mateo, California, once the deal closes. Financial terms were not disclosed.

"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," Shawn Layden, chairman of SIE Worldwide Studios (WWS), said in a statement Monday.

"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."

The deal could be an important one for Sony, as the gaming giant looks to build on its success with exclusive titles to rival Microsoft's Xbox console, and as the PlayStation 4 approaches the end of its life cycle.

Many are speculating about what Sony will bring to the table with its next-generation console. Mark Cerny, the lead developer for the PS4, has said the next PlayStation won't arrive in stores this year, but gamers can expect it to come with much better graphics and sound.

Microsoft revealed its next-generation console, "Project Scarlett," at the E3 gaming conference earlier this year. That device will show up to 120 frames per second — which is twice the average TV — and include a solid-state drive to improve performance.

It also arrives as players in the gaming space enter a new battle: cloud gaming. Both Google and Microsoft have made public their plans to launch game streaming platforms, with Google having announced Stadia back in March and Microsoft unveiling Project xCloud at E3.

Sony has its own game subscription service, PlayStation Now, and it announced a partnership with Microsoft earlier this year that would see the two work together on game and content streaming.