Netflix to acquire animation and visual effects studio Animal Logic
Netflix has announced plans to acquire Australian animation and visual effects studio Animal Logic.
The Sydney-based company has worked on blockbusters including Happy Feet, Legend of the Guardians: Owls of Ga’Hoole, The LEGO Movies and Peter Rabbit 1 & 2, with elaborate visual effects Matrix, Moulin Rouge!, 300, and Gatsby the magnificent. He also established a second studio in Vancouver, Canada in 2015.
The two companies have already teamed up to The magician’s elephantdirected by Wendy Rogers, and the recently announced The Shrinking Treehornsdirected by Ron Howard.
“Netflix has invested in animation over the past few years and it reinforces our commitment to building a world-class animation studio,” said Amy Reinhard, vice president of studio operations at Netflix. “Animal Logic is a leading animation studio with innovative technology that will strengthen our existing business and increase our long-term capacity in the animation space, so that we can better entertain our members around the world. .”
CEO and Co-Founder Zareh Nalbandian (pictured), said: “After 30 years of producing great work with great people, this is the perfect next chapter for Animal Logic. Our values and aspirations couldn’t be more aligned with Netflix, working with diverse content creators, producing innovative and engaging stories for audiences around the world. Our collective experience and talent will open new doors for all of our teams and enable a new level of creativity in animation.
“The strength of our partnership across a number of projects is a testament to our shared creative vision,” said Sharon Taylor, COO of Animal Logic. “Consolidating our future together felt like a natural and mutually beneficial progression and I’m excited to continue building on our success together.”
Animal Logic Entertainment will remain independent and continue to collaborate with filmmakers and major studio partners, while Netflix will also work with other studios around the world for anime series and cinematic needs.
Completion of the transaction is subject to regulatory approvals, which are expected to close the transaction later this year. Financial terms were not disclosed.