Hong Kong-based Camsing International Holding has purchased Stan Lee’s Pow! Entertainment for an undisclosed amount. The Chinese firm has acquired the company’s library of content, including its film, television, games, virtual reality, animation, live events, tours, comics and publishing properties.
Stan Lee is staying on with the company and will continue in his current role as chief creative officer. In a statement, Lee said the acquisition will give Pow! the additional resources it needs to develop new projects and get into new markets.
The company was created in 2001 and has churned out properties like Stan Lee’s Mighty 7 (pictured), Stan Lee’s LightSpeed, Who Wants to Be a Superhero? and content for interactive augmented and virtual reality platform The VROOM.
Camsing VP Shane Duffy is stepping in as CEO of Pow! while Gill Champion becomes president. The pair intends to use Pow’s licensing connections to create more merchandise. Stan Lee’s Mighty 7 does have an existing licensing program with partners like Factory Entertainment and Zak Designs on board.
Camsing currently works on IP creation, distribution and production, and with brands like Tom and Jerry, Kung Fu Panda and Transformers. It has also produced a mobile game for the hit preschool series Super Wings.
The sale follows not long after another Chinese firm, United Luck Consortium, acquired Outfit7, creator of Talking Tom and Friends, for US$1 billion.