The film is being made by two animation houses: Rainmaker Entertainment, the Canadian studio behind the television shows ReBoot and Transformers: Beast Wars, and Blockade Entertainment, a company that creates animated content such as trailers and commercials based on video games.
Insomniac will "play a hands-on role with the film's production, screenplay, character development and animation consulting," said James Stevenson, community lead for Insomniac, on the PlayStation Blog. The movie's script is being written by Insomniac's T.J. Fixman, a writer on all the current-generation Ratchet & Clank titles.
"We've wanted to do a movie for a long time," added Stevenson. "Ratchet & Clank's action, humor and galaxy-spanning adventures have really been the basis for a fantastic game series, and we think it'd translate perfectly to the big screen."
A teaser trailer for the film was released today; you can watch it above. To mark the film's announcement, all Ratchet & Clank games will be discounted on the PlayStation Store beginning April 30.
Update: Variety reports that the video game voice actors for Ratchet, Clank and Captain Qwark — James A. Taylor, David Kaye and Jim Ward, respectively — will reprise their roles for the film. In an interview with IGN, Rainmaker president Michael Hefferon said, "With our script locked and film now officially announced, we are in discussion with potential celebrity talent — many of whom are big fans of the game."
Hefferon added that the animation studios are using Insomniac's game assets as reference material in order to speed up the pre-production phase. "All the assets, rigs, models and elements necessary to make the film will be entirely created from scratch," he said.
Brad Foxhoven, CEO of Blockade Entertainment, told IGN that the film will tell the origin story of the titular lombax and robot duo, and is being designed to remain faithful to the series while appealing to those unfamiliar with the games.