Sony has to buy the Spider-Man developer Insomniac Games

FILE PHOTO: The logo of Sony Interactive Entertainment will be seen in Tokyo, Japan, May 23, 2018. REUTERS/Toru Hanai

(Reuters) – the PlayStation console maker Sony Interactive Entertainment, said on Monday it would buy a privately owned Insomniac Games, Inc. is known for developing games such as Marvel’s “Spider-Man” and ” third person shooter “Ratchet & Clank” franchise.

The deal will help the console’s maker, a unit of Japan’s Sony Corp, boosting the game’s offerings prior to the launch of a rival game streaming services offered by companies, including those in the Alphabet Inc, and Google, which is preparing to unveil the PlayStation 5 will be next year.

In an effort to maintain market share in the us $150 billihere the global video gaming market, Sony’s out in March, along with its major competitor to Microsoft Corp., maker of the Xbox game console to stream games and content to consumers, as well as the ability to make game-makers, a new set of development tools.

Founded in 1994, Insomniac Games has been working with Sony for more than 20 years, starting with the original PlayStation. Last year, “Spider-Man”, in co-operation with the Marvel series of Games, which is owned by the Walt Disney Co. Over 13.2 million copies of the game have been sold as of the end of July.

Insomniac will also release here in Stormland, an action-adventure virtual reality game for the Facebook Inc’s Oculus Rift headset later this year.

Sony did not disclose the financial terms of the deal.

Reporting by Supantha Mukherjee in Bengaluru; Editing by Anil D’silva

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