VA Corporation has undertaken a merger by absorbing its subsidiary, VA Studio (formerly known as MOFAC), in an effort to consolidate similar business sectors and embark on organizational improvements. Through this merger, the company aims to enhance operational efficiency and production expertise, further refining its one-stop creation system and expanding its market presence.
VA Corporation announced on the 5th that it has completed the merger with its subsidiary, VA Studio. With the merger's completion, VA Corporation will inherit all of VA Studio's assets, setting the stage for accelerated growth with a target of achieving over 30% annual revenue growth.
The merged VA Studio is a pioneering visual effects (VFX) company in South Korea. Established as MOFAC in 1994, the company has provided VFX services for over 300 feature films, TV series, and advertisements, including the creation of creatures for Netflix's 'Hellbound.' VA Studio has established itself as one of the most creative and trusted studios in Asia, known for its exceptional VFX technology and expertise.
VA Corporation aims to maximize business synergy by efficiently reorganizing its production pipeline and organization based on its content production expertise and capabilities. Through this merger, the company intends to consolidate and manage the IP (intellectual property) it has secured, while also leveraging its robust production infrastructure, including the largest virtual studio in Asia, virtual solutions, the 2D and 3D asset library platform V STAGE, and its exceptional VFX technology and extensive experience. VA Corporation seeks to offer even more advanced one-stop creative services, expanding its market reach from domestic to international markets and enhancing its revenue growth.
Furthermore, the company plans to accelerate its revenue model diversification through ▲expanding its virtual human and avatar business by incorporating AI ▲enhancing and commercializing V STAGE's capabilities ▲exploring new ventures by leveraging proprietary IP. To support these initiatives, VA Corporation has established the A.I LAB and Motion Capture Division, indicating a commitment to continuous investment in research and development.
"We pursued the merger with the goal of creating business synergies, enhancing competitiveness, improving operational efficiency, and optimizing corporate governance to maximize corporate value through resource integration" stated by an official VA Corporation. They further emphasized, "Building on our expanded production infrastructure and advanced technology, we aim to nurture ourselves into a global top content supply base."
Furthermore, VA Corporation boasts a portfolio of subsidiary companies, including COSMIC RAY (motion graphic production), HuskyFox (comprehensive branding), ACEMAKER movie works (film investment and distribution/film and drama production), ANDMARQ (comprehensive entertainment), SARAM Entertainment, and Root M&C (performance, new media, and immersive content production). These subsidiaries possess expertise and scalability for content production, editing, distribution, and more."