Netflix buys Australia-based animation studio Animal Logic

Netflix Inc acquires Sydney-based animation studio Animal Logic. Animal Logic has worked on hits from “Happy Feet” to “The Lego Movies,” the firms said in a statement.

According to the statement, the deal will accelerate Netflix’s efforts to build end-to-end animation production capabilities.

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

Amy Reinhard, Vice President of Studio Operations at Netflix, said the firm had invested in animation over the past few years. This furthered their commitment to building a world-class animation studio.

The acquisition required regulatory approvals and was announced just ahead of Netflix’s quarterly earnings report. Netflix said it expects the deal to close later this year.

Under the terms of the agreement, animators at Animal Logic will form a global production with Netflix teams to work on some of the firm’s biggest titles.

Led by co-founder and CEO Zareh Nalbandian, Animal Logic is based in Sydney and operates a second studio in Vancouver. The statement said that the current leadership and teams would remain in place and continue to work with other studios.

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

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