NPX Capital’s Terapin Studios Acquires Leading Webtoon Platform, Toomics for $160 Million US
Summary
SEOUL, South Korea--(BUSINESS WIRE)--NPX Capital, a global alternative investment firm, announced today that its portfolio company, Terapin Studios, has acquired top Korean webtoon platform, Toomics, for $160 million US. Available in multiple languages, Toomics has relied on its high quality webtoon-IP and distribution capacity to evolve into one of the fastest growing global webtoon platforms to date, evidenced by its compound annual growth rate (CAGR) of 42% from 2018 to 2021. Not only is it a platform that connects tens of millions of viewers, but also a digital content powerhouse that leverages its premier IP and production capabilities,” Samuel Hwang, Founder and CEO of NPX Capital, said. With state-of-the-art AI-driven production capabilities in addition to Toomics’s robust platform and distribution capacity, Terapin Studios further strengthens its position at the forefront of delivering Korea’s globally recognized digital and entertainment content to the world through its ‘one source multi use’ (OSMU) model. Netflix’s upcoming miniseries ‘Black Knight’ - a Toomics original webtoon-IP - starring A-list actor Kim Woo Bin, reinforces Terapin Studios’s vision to evolve these universes through various content verticals.