Netflix to Acquire Animation Studio Animal Logic in All-Cash Deal
Todd Spangler NY Digital EditorNetflix is acquiring Australian animation studio Animal Logic, which is producing films for the streamer including “The Magician’s Elephant,” directed by Wendy Rogers, and “The Shrinking of the Treehorns,” directed by Ron Howard.Animal Logic has about 800 employees, mostly based in Sydney and Vancouver. The acquisition “will help us accelerate the development of our animation production capabilities and reinforces our commitment to build a world-class animation studio,” Netflix said in its Q2 letter to shareholders.Click here to sign up for Variety‘s free Strictly Business newsletter covering earnings, financial and investment news, and more.The company did not disclose the purchase price for Animal Logic but said it will fund the acquisition from cash on hand.