Netflix to buy Australian animation studio Animal Logic

A Netflix logo is displayed on a television screen. Picture taken May 9, 2022. REUTERS/Denis Balibouse/Illustration

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LOS ANGELES, July 19 (Reuters) – Netflix Inc (NFLX.O) is considering acquiring 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. statement on Tuesday.

The move will accelerate Netflix’s efforts to build end-to-end animation production capabilities, according to the release.

The streaming service has produced several animated titles, including the Oscar-nominated films “Over the Moon” and “Klaus.”

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“Netflix has invested in animation over the past few years and this reinforces our commitment to building a world-class animation studio,” Amy Reinhard, vice president of studio operations at Netflix, 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.

As part of the deal, 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.

Led by CEO and co-founder Zareh Nalbandian, Animal Logic is headquartered in Sydney and operates a second studio in Vancouver. Current teams and management will remain in place and continue to work with other studios, the statement said.

Netflix and Animal Logic are already working on the next films “The Shrinking of the Treehorns”, directed by Ron Howard, and “The Magician’s Elephant”.

Netflix will continue to work with other animation studios, the statement said.

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Reporting by Lisa Richwine; Editing by Sandra Maler

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