Soosung Webtoon (formerly Soosung Selvacion) will acquire the webtoon production company Terapin.
On the 19th, Soosung Webtoon announced that it will acquire 96.14% of Terapin's equity using its affiliate Toomics Global. The acquisition cost is 29 billion won, and the plan is to complete the final acquisition procedures by January next year.
With the acquisition of Terapin, which holds popular webtoon intellectual property (IP), Soosung Webtoon aims to enhance the work supply capability of its subsidiary Toomics' own platform and expand the webtoon value chain.
Terapin holds popular webtoon IPs such as "Trash of the Count’s Family" and "The Dragon King's Bride." It is also the second-largest shareholder with a 21.05% equity stake in the webtoon company Top Media, which operates the webtoon platform Toptoon.
Soosung Webtoon aims to strengthen its dominance in the overseas webtoon market through collaboration with Toomics, Terapin, and Toptoon. In particular, Terapin is already supplying content to about 10 webtoon platforms in Japan, including LINE Manga and Piccoma.
Soosung Webtoon noted, "With the addition of Terapin, Soosung Webtoon's revenue next year is expected to exceed 130 billion won, nearly three times that of this year," adding that "operating profit is anticipated to reach 15 billion to 20 billion won."