PlayStation console maker Sony Interactive Entertainment said on Monday it would buy 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.
Founded in 1994, Insomniac Games has worked with Sony for more than 20 years, starting with the first PlayStation. 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 the end of July.
Sony did not disclose the financial terms of the deal.