NAVER to Acquire Wattpad for Cash and Stock Valued at Over $600 Million

Naver Funds Merge of Wattpad and WEBTOON Studio Divisions to Form Wattpad WEBTOON Studios

June 24, 2021

Media & Entertainment

Naver is committing USD $100 million to finance the newly created Wattpad WEBTOON Studios, a merger of Wattpad Studios and WEBTOON Studios that combines both companies' IP libraries and audiences to develop TV, film and book adaptations. The new global studio, led by Aron Levitz as President, will unify entertainment development and production across WEBTOON and Wattpad's catalogs to scale IP-driven content worldwide.

Naver to Acquire Poshmark

October 3, 2022

E-Commerce

Naver Corp. has entered into a definitive agreement to acquire Poshmark, paying $17.90 per share in cash for an enterprise value of approximately $1.2 billion. The deal is expected to close in the first quarter of 2023, subject to stockholder approval and customary closing conditions.

Kakao Entertainment Acquires Tapas Media and Radish Media

May 7, 2021

Media & Entertainment

Kakao Entertainment signed definitive agreements to acquire U.S.-based storytelling platforms Tapas Media and Radish Media to expand its original content business in North America and other English-speaking markets. The transaction values Tapas at an estimated USD 510 million (100% stake) and Radish at an estimated USD 440 million, and keeps Tapas and Radish management in place while integrating them into Kakao's global content strategy.

Terapin Studios (NPX Capital) Acquires Toomics for $160M

July 20, 2022

Media & Entertainment

NPX Capital’s portfolio company Terapin Studios has acquired South Korean webtoon platform Toomics for $160 million. The deal adds Toomics’s more than 60 million subscribers and IP library to Terapin’s global content platform, strengthening production, distribution and AI-driven content capabilities for cross-media expansion.

Elon Musk’s Entity to Acquire Twitter for $44 Billion

April 25, 2022

Media & Entertainment

Elon Musk signed a deal to acquire Twitter in a transaction valued at approximately $44 billion. The offer is $54.20 per share in cash, with Twitter stockholders receiving cash for their shares; closing is expected in 2022 subject to stockholder and regulatory approvals and other customary conditions.

Take-Two Interactive to Acquire Zynga

May 23, 2022

Software

Take-Two Interactive Software agreed to acquire all outstanding shares of Zynga in a cash-and-stock transaction valued at approximately $12.7 billion enterprise value. The deal provides Zynga stockholders $3.50 in cash and 0.0406 shares of Take-Two common stock for each Zynga share, and targets cost synergies and revenue opportunities from combining mobile and other interactive entertainment franchises.