Terapin Studios Inc., a subsidiary of NPX Capital alternative investment firm, acquired Toomics for $160 million.

Toomics is a leading Korean webtoon platform that was founded in 2015. The number of subscribers for this platform has doubled in the last two years, and it now has a total of 60 million subscribers. Toomics specializes in distributing high quality webtoon-IPs, such as Black Knight which has been adapted into an upcoming Netflix miniseries starring A-list Korean actor Kim Woo Bin.

"Toomics is a leading player that represents Korea’s growth in digital entertainment," said Samuel Hwang, CEO of NPX Capital. "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.”

This acquisition will further reinforce Terapin Studios' content to compete on the world stage. Toomics platform, distribution capacity, and availability in multiple languages will enhance Terapin Studios' ability to deliver globally recognized content throughout the world.