Seoul, South Korea–(BUSINESS WIRE)–NPX Capital, 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 the world consumes entertainment content.
Founded in 2015, Toomics has over 60 million total subscribers, a number that has doubled in the past two years. Available in multiple languages, Toomics has leveraged its distribution capability and high-quality webtoon IP to become one of the fastest growing global webtoon platforms to date, as evidenced by its annual growth rate. compound (CAGR) of 42% from 2018 to 2021.
“Toomics is a leading player representing Korea’s growth in digital entertainment. It is not only a platform that connects tens of millions of viewers, but also a digital content powerhouse that leverages its core IP and production capabilities,” Samuel Hwang, founder and CEO of NPX Capital, said. “The acquisition of Toomics will accelerate our journey to establish and further strengthen the comprehensive content platform that Terapin Studios is creating.”
This follows NPX Capital’s 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).
Netflix’s upcoming miniseries “Black Knight” – an original Toomics webtoon-IP – starring A-list actor Kim Woo Bin, furthers Terapin Studios’ vision to evolve these universes through various content verticals. .
“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 a global content leader, Terapin Studios uses its intellectual property to develop all forms of media, including animations, films and merchandise. Backed by international investors, Terapin Studios aims to take content production to the next level, creating immersive experiences in the form of metaverse, games and NFTs.