Japanese stock photo, illustration, vector and footage agency PIXTA has paid 130 million yen for a controlling stake in Korean stock agency Topic Images.
The PIXTA Boss said on the sale “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.”
This is the fifth overseas office for PIXTA, following its Singapore, Vietnam and Thailand subsidiary, and Taiwan branch. They plan to launch their Korean site in June. Topic was established in Seoul, KOREA in 2014 and produces most of it’s stock content in house.