NPX Capital (npxcap.com), a global alternative investment firm, today announced that its holding company, Terapin Studios, has acquired top Korean webtoon platform Toomics for US$160 million. Terapin Studios was created to be a global media company that leverages a broad spectrum of intellectual property (IP) to evolve and expand the ways entertainment content is consumed around the world.
Founded in 2015, Toomics is a Korea-based webtoon platform with over 60 million total subscribers, a number that has doubled in the past two years. Currently available in nine languages, Toomics has leveraged its high-quality webtoon IP and distribution capability to evolve into one of the fastest growing global webtoon platforms to date, as evidenced by its compound annual growth (CAGR) of 42% from 2018 to 2021. .
“Toomics is a leading player representing Korea’s growth in digital entertainment. The company is not only a platform that connects to tens of millions of viewers, but also a digital content powerhouse that leverages its own intellectual property and production capabilities,” said Samuel Hwang, founder and CEO of NPX Capital. “I am confident that the acquisition of Toomics by Terapin Studios will accelerate our journey to further establish and strengthen the comprehensive content platform that Terapin is creating.”
This acquisition follows NPX Capital’s December 2021 acquisition of Korean webtoon and digital content production studio, Copin Communications, which was later flipped and established as Terapin Studios Inc., a US entity.
With state-of-the-art AI-driven production capabilities in addition to Toomics’ robust platform and distribution capability, Terapin Studios further solidifies its position at the forefront of digital content and entertainment delivery. globally recognized from Korea to the world through its “single source multi use model (OSMU). Through this model, Terapin Studios will continue to expand its intellectual property across multiple content verticals while driving the global growth of webtoons.
Based on the original Toomics Webtoon IP Black KnightNetflix recently announced its 2022 premiere of the sci-fi miniseries starring Hallyu A-list actor Kim Woo Bin, furthering Terapin Studios’ vision to expand and evolve these universes through various forms. entertainment content.
“This acquisition is particularly significant because more Korean intellectual property, which has proven itself to international success, can now benefit from the infrastructure, funding and support on a global level under the platform of Terapin Studios”, added JH Kah, COO of Terapin Studios.
With its vision to become one of the world’s content leaders, Terapin Studios uses its intellectual property to develop all forms of media across animation, movies, games and merchandise. Backed by funding from international investors, the company aims to take content production to the next level, creating a metaverse in the form of immersive experiences with avatars, social games and NFT creation.