NPX Capital Investor Terafin Studio Acquires Webtoon Platform Company Toomics for 202 Billion Won

[Asia Economy Reporter Jang Hyowon] Global investment firm NPX Capital announced on the 20th that its portfolio company Terapin Studios has acquired the global webtoon platform Toomics for USD 160 million (approximately KRW 202 billion).

Terapin Studios aims to be a global media company, leveraging extensive intellectual property (IP) to evolve and expand the way entertainment content is consumed worldwide.

Toomics, founded in 2015 and based in Korea, currently offers services in nine languages. Based on high-quality webtoon intellectual property (IP) and distribution capabilities, it has recorded a compound annual growth rate (CAGR) of 42% in annual revenue from 2018 to 2021, growing into a globally recognized webtoon platform.

In fact, Toomics’ One Source Multi Use (OSMU) strategy transforms existing webtoons into various other content formats such as dramas, games, and metaverse, presenting them through diverse media. For example, Toomics’ webtoon "Taekbaegisa" (Delivery Driver) is currently being produced as a Netflix original drama and is scheduled to be released within this year. Additionally, the action thriller webtoon "Spectrum," which was popular on Toomics, will be reborn as a new media genre moving webtoon with voice dubbing, music, and sound effects added, offering a vivid experience akin to watching a movie.

Samuel Hwang, founder and CEO of NPX Capital, said, “Toomics is a leading representative of the growth of digital entertainment in South Korea,” adding, “It is not only a platform connecting tens of millions of viewers but also a powerful collective of digital content utilizing its own intellectual property and production capabilities.”

He continued, “I am confident that Terapin Studios will accelerate the establishment of a comprehensive content platform, using this Toomics acquisition as a stepping stone.”

This acquisition of Toomics follows last December’s acquisition of domestic webtoon and digital content production studio Kopin Communications. With Toomics’ solid platform and distribution capabilities combined with Terapin’s cutting-edge AI-based production capabilities, the company is solidifying its position as a leading provider of Korean digital entertainment content recognized worldwide through the OSMU model. Terapin plans to continue expanding IP into multiple content categories through the OSMU model and support the growth of global webtoons.

Ga Jonghyun, COO of Terapin Studios, stated, “This acquisition of Toomics is meaningful in that Korean intellectual property, which is gaining popularity in the global market, will become more competitive in the world market through global-level infrastructure, funding, and support provided by a global entertainment company like Terapin Studios.”

Kang Kyunghoon, newly appointed co-CEO of Toomics and Toomics Global, said, “This announcement is significant as it allows Toomics to join Terapin, a global media content and technology company,” adding, “Toomics is a platform with numerous original contents with infinite potential, and by fully utilizing Terapin’s global infrastructure, resources, and operational know-how, we will provide diverse content and once again prove the strength of Korean content to customers worldwide.”

Meanwhile, Terapin Studios aims to become a global leader in entertainment content by developing all forms of media across animation, film, games, and merchandise using intellectual property (IP). Supported by funding from global investors, it aims to build a metaverse that offers immersive experiences through avatars, social games, and NFTs, further advancing content production.

This content was produced with the assistance of AI translation services.