Stan Lee’s Pow! Entertainment has been bought by Hong Kong-based Camsing International Holding for an undisclosed price.
Under the deal, announced Monday, Camsing will acquire the Pow! Entertainment library of intellectual properties for film, television, games, virtual reality, animation, live events, tours, comics, and publishing. Stan Lee will continue in the Chief Creative Officer role.
'I am enthusiastic to continue with the next chapter of my career and to be involved with the continued development and production of so many of the new projects that we developed while at Pow! Entertainment,” Lee said in a statement. “The Camsing merger will provide additional resources for development of these projects and access to new markets. Ultimately this will enhance and create additional opportunities for fans of the genre around the globe to enjoy the superheroes that we have created over the last few years. Excelsior!”
Lee formed Pow! (which stands for “Purveyors of Wonder”) in 2001. His co-creations include Spider-Man, The Incredible Hulk, X-Men, The Fantastic Four and Iron Man. He remains Chairman Emeritus of Marvel, as well as a member of the Editorial Board of Marvel Comics.
Vivian Lo, chairman and CEO of Camsing, announced the acquisition. Camsing’s U.S. VP Shane Duffy will become the CEO of Pow! while Gill Champion will transition to president.
"I believe the merger will bring significant synergy by combing Pow!’s existing intellectual property library and Camsing’s strong IP merchandising network in China, therefore creating value for our shareholders,” Lo said. “At the same time, this deal will enhance Camsing’s comic intellectual property creation capability by working with Lee, who is a global proven name. The group will continue to produce better products and content for its global customers and develop another ‘Marvel’ in the Asian market.”
Camsing has worked with Disney, Hasbro, Blizzard, Warner Brothers, National Basketball Association and properties including Transformers, Star Wars, World of Warcraft and Justice League. Pow! properties include “Stan Lee’s Lightspeed,” “Who Wants to Be a Superhero?” and the Stan Lee’s Mighty 7 media franchise.