Terapin Studios Acquires Korean Webtoon Platform

Terapin Studios, owned by investment firm NPX Capital, has acquired the Korean webtoon platform Toomics for $160 million.

Toomics, in operation since 2015, has more than 60 million subscribers and is available in nine languages. Its slate of original IP includes Black Knight, which is being adapted as a sci-fi miniseries for Netflix starring Kim Woo Bin.

“Toomics is a leading player that represents Korea’s growth in digital entertainment,” said Samuel Hwang, founder and CEO of NPX Capital. “The company is not only a platform that connects with tens of millions of viewers, but also a powerhouse of digital content that leverages its own intellectual property and production capabilities. I’m certain that Terapin Studios’ acquisition of Toomics will expedite our journey to establish and further strengthen the comprehensive content platform Terapin is creating.”

At the end of last year, NPX Capital acquired the Korean webtoon and digital content production studio Copin Communications, using it as the foundation to launch Terapin Studios. “This acquisition is especially meaningful as more Korean IP, which have a proven track record of international success, can now enjoy the infrastructure, funding and support at a global level under the platform of Terapin Studios,” said Terapin Studios COO JH Kah.