Your friendly neighborhood Spider-Man will stay in the Marvel Cinematic Universe after all.

Sony Pictures Entertainment and Walt Disney Studios, two companies that last month announced they could not agree on terms to continue working together on the live-action “Spider-Man” series, announced a reversal on Friday, to the relief of the films’ fans.

Marvel Studios and its president, Kevin Feige, will produce the third film in the “Spider-Man Homecoming” series, Sony and Disney jointly announced on Friday. Spider-Man will also appear in another future Marvel Studios film.

The next “Spider-Man” film starring Tom Holland is scheduled to be released on July 16, 2021.

“We have had a great collaboration over the last four years, and our mutual desire to continue was equal to that of the many fans,” Sony Pictures said in a tweet on Friday. “We are delighted to be moving forward together.”

The announcement came one month after the two companies failed to reach a financial agreement over their partnership of the Spider-Man film franchise. At issue had been who shared how much of the box office revenue and the production costs of the films in which the character appears.