Netflix to acquire Australian animation studio Animal Logic
The Hindu
The move will accelerate Netflix’s efforts to build end-to-end animation production capabilities
Netflix Inc plans to acquire Sydney-based Animal Logic, an animation studio that has worked on hits from "Happy Feet" to "The Lego Movies," the companies said in a statement on Tuesday.
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The move will accelerate Netflix's efforts to build end-to-end animation production capabilities, the statement said. The streaming service has produced several animated titles including Oscar-nominated films "Over the Moon" and "Klaus."
"Netflix has been investing in animation over the past few years and this furthers our commitment to building a world-class animation studio," Amy Reinhard, Netflix vice president of studio operations, said in a statement.
The acquisition, which requires regulatory approvals, was announced just ahead of Netflix's quarterly earnings report. Netflix said it expects the deal to close later this year.
Terms were not disclosed.
Under the agreement, Animal Logic animators will form a global production studio with Netflix teams to work on some of the streaming service's biggest titles, the statement said.