WEBTOON to Buy RI Games in $100 Million Mixed-Structure Deal
The webcomics platform is building an in-house pipeline to turn hit series into mobile and interactive games.
WEBTOON Entertainment Inc. (WBTN) agreed to acquire RI Games Holdings Inc. for approximately $100 million in a mixed cash-and-stock transaction. The deal marks a strategic pivot for the webcomics platform, which is seeking to capture more value from its intellectual property by developing games directly rather than licensing titles to third-party studios.
The acquisition will establish a dedicated pipeline for turning hit webcomics with established global fandoms into interactive entertainment. The company views the move as a way to extend the life cycle of its most popular franchises and generate revenue across multiple media formats.
"WEBTOON is where global fandoms begin, and with this investment we're taking a more direct role in growing stories into global franchises," said Junkoo Kim, Founder & CEO of WEBTOON Entertainment.
The transaction reflects a broader trend of entertainment companies seeking to control the full development chain for their intellectual property. Playtika's $700 million acquisition of SuperPlay in 2024, which brought the mobile gaming studio behind Dice Dreams and Domino Dreams under the same corporate umbrella, signaled a similar logic: owning the studio that translates popular content into games can yield higher margins than licensing arrangements. Paramount's launch of a dedicated games division in June 2026, with titles in development based on Teenage Mutant Ninja Turtles and Star Trek, underscored how media companies are increasingly treating interactive entertainment as a core business rather than a sideline.
The deal is subject to customary closing conditions. Financial terms beyond the headline value were not disclosed.