Netflix to acquire Sydney-based animation studio

According to a statement released on Tuesday by the two firms, Netflix Inc. intends to purchase Sydney-based Animal Logic, an animation studio that has produced blockbusters like “Happy Feet” and “The Lego Movies.”

According to the statement, the action will hasten Netflix’s attempts to develop end-to-end animation production capabilities.

The animated flicks “Over the Moon” and “Klaus,” which were nominated for Oscars, were among the works produced by the streaming service.

According to Amy Reinhard, vice president of studio operations at Netflix, “Netflix has been investing in animation over the past few years and this furthers our commitment to developing a world-class animation studio.”

The acquisition, which needs regulatory approvals, was made public right before Netflix released its third-quarter financial results. The purchase, according to Netflix, is anticipated to finalize later this year.

Terms weren’t made public.

According to the announcement, as part of the partnership, teams from Netflix and Animal Logic will create a worldwide production studio that will work on some of the streaming service’s most popular films.

Zareh Nalbandian is the CEO and co-founder of Animal Logic, which has its main office in Sydney and a second studio in Vancouver. According to the statement, the present teams and management will continue to function and collaborate with other studios.

The Magician’s Elephant and “The Shrinking of the Treehorns,” both directed by Ron Howard, are now in production at Animal Logic and Netflix.

According to the announcement, Netflix will keep collaborating with additional animation studios.

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