PIXTA acquires Korean stock images provider Topic Images
PIXTA Inc.("PIXTA") announced its acquisition of Topic Images Inc.("Topic"), one of providers of stock images in Korea. PIXTA has acquired 80% of the outstanding stock of Topic from its parent companies, NEWSIS Co., Ltd. and NEWS1 Co., Ltd. for 130 million JPY.
Topic has been selling high-priced stock images mainly in Korea, producing many of them by itself.
"In Korea, the market of micro stock images and footage is still undeveloped, there is no market leader but very few players from overseas. We had a good chance to get into it, so we'll make our best effort to gain a big market share as fast as possible, and contribute to expand the market as well." said Daisuke Komata, founder and CEO of PIXTA Inc.
Through this acquisition, PIXTA is planning to launch its Korean site in June, 2017 and start selling 260 thousands of Korean local contents(images of Korean people, landscapes, culture and so on) by the end of 2017. It will also work on producing a variety of Korean local contents itself using Topic's photographers network.
This is the fifth overseas office of PIXTA, following its Singapore, Vietnam and Thailand subsidiary, and Taiwan branch.
Topic Images Inc. Overview
Location： Seoul, KOREA
Business: Selling and producing stock images
Capital: 50 million KRW