ZOO Digital has announced the acquisition of all of the share capital of ZOO Korea, following a year of operation. With Korean content growing in popularity globally, the business has enabled ZOO to provide major content creators and global streaming services with an enhanced localisation offering in Korea. The investment fits well with ZOO’s stated strategy to expand its in-territory expertise across Europe, the Middle East and Southeast Asia in order to meet growing demand – we will return to this theme, and to the group’s competitive positioning, in a future research update. We make no changes to estimates at this stage but will look to quantify the potential uplift to earnings as the investment gains traction.