Scratch that, Marvel actually updated their article about the announcement, that last sentence I quoted was not there when the announcement was first made iirc: http://marvel.com/news/movies/24062/sony_pictures_entertainment_brings_marvel_studios_into_the_amazing_world_of_spider-man
Under the deal, the new Spider-Man will first appear in a Marvel film from Marvel's Cinematic Universe (MCU). Sony Pictures will thereafter release the next installment of its $4 billion Spider-Man franchise, on July 28, 2017, in a film that will be co-produced by Kevin Feige and his expert team at Marvel and Amy Pascal, who oversaw the franchise launch for the studio 13 years ago. Together, they will collaborate on a new creative direction for the web slinger. Sony Pictures will continue to finance, distribute, own and have final creative control of the Spider-Man films.
Marvel and Sony Pictures are also exploring opportunities to integrate characters from the MCU into future Spider-Man films.