Innocean Worldwide acquires 47.5% of Studio Lennon for KRW 29bn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $20m
- Stake
- 47.5%
- Implied 100%
- $42m
- Revenue
- —
- Op. income
- —
- Multiples
- —
Deal value ÷ stake (structure unconfirmed)
- Target
- Studio Lennon · VFX and digital content production
- Buyer
- Innocean Worldwide · SI
- Seller
- —
- Structure
- —
- Announced
- Mar 21, 2022
- Closed
- —
- Stage
- Closed
Target
Studio Lennon, founded in 2020, is a VFX production studio creating digital content including VFX and new-media visuals, serving major domestic and overseas game companies and advertising production houses.
Deal rationale
Innocean invested KRW 29 billion for a 47.5% stake to become the largest shareholder, saying the industry is shifting from the age of advertising to the age of content. CEO Lee Yong-woo said the investment would be a catalyst to digitally transform the creative ecosystem of ad production and that Innocean would evolve from a traditional agency into a global content leader. The seller and its rationale were not reported.
Press coverage
- 이데일리 (2022-03-22): “290억원 투자해 47.5%의 지분을 확보해 최대 주주에 등극했다고”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.