In an effort to bolster its business in the comic book market, Random House Publishing Group (a division of Penguin Random House) has finalized a deal to acquire graphic novel/comic book publisher BOOM! Studios.

Financial terms of the deal have not been publicized, but the acquisition is expected to close later this summer.

BOOM!’s publishing program, which includes Eisner Award-winning tween/teen graphic novel series Lumberjanes (pictured) and licensed series for Garfield, Power Rangers and Dark Crystal, will become part of Random House Worlds’ portfolio of imprints, sitting alongside Del Rey (science fiction and fantasy), Inklore (licensed and original manga, manhwa, manhua, webcomics and graphic novels for adults) and RH Worlds (pop culture-driven licensed books).

BOOM! will remain based in LA and maintain its editorial and publishing independence, with all executives reporting to Random House Worlds’ president Scott Shannon.

Random House Worlds’ VP and publisher Keith Clayton and Random House Publishing Group’s EVP of business strategy Bill Takes will work with Shannon to ensure a smooth integration.

As a result of the acquisition, BOOM! Studios chairman and founder Ross Richie is exiting the company.

“I’m excited to hand the reins of BOOM! over to the best and largest publisher in the world. Their focus on readers and retail partnerships will build upon our work and help our creators achieve even more success. Personally, it’s time for me to take some much-needed time off with my family and explore what’s next,” said Richie in a release.

Diamond Comic Distributors will continue to distribute BOOM! titles to the direct market (the group of brick-and-mortar stores that stock periodical comics using a dedicated distribution system), while Simon & Schuster manages the bookstore channel.

As for its studio work, numerous BOOM! tween/teen titles have been adapted into TV series over the last few years, including Disney+ series Just Beyond, which is based on an R.L. Stein graphic novel series. BOOM! also has a first-look deal with Netflix for live-action and animated content based on its comics.