Sanzaru Games had developed a handful of low-key games and money-job ports before remastering Sony's respected platformer mascot Sly Cooper with The Sly Collection. This released to much success and started a hunger for the dormant series to return.
Since original developer Sucker Punch had moved onto the Infamous series, Sony tasked Sanzaru with creating Sly Cooper: Thieves in Time. It was a strong continuation critically, although sadly failed to connect with audiences.
Despite Sly 4's failure, Sony has been the only company to see Sanzaru as more than a hack studio and gave them a chance to shine as a triple-A developer.
Frankly, Sanzaru needs the stability and Sony could pick up the smaller team on the cheap and etch them into an effective worker for them; whether it be revamping dormant franchises, producing peripheral tie-ins or creating brand new I.P.
On the other hand, since Sly 4's failure, Sanzuru went back to their regular grind of quick-cash ports, with none of them being PS exclusives. If the potential for the two to build something together was there, it might have flown the coop with Sly.