Netflix is buying premiere visual-effects house Scanline VFX, announcing a deal to acquire the company that has done work on Netflix originals like “Stranger Things” as well as tentpole movies for Marvel, DC and others, reported The Wall Street Journal.
Financial terms of the pact were not disclosed. The deal is expected to close in the first quarter of 2022, subject to regulatory approvals and other usual closing conditions.
Netflix said it will operate Scanline VFX as a standalone business that will continue to work with a variety of clients. Founded in 1989 in Munich, Scanline VFX also operates locations in Los Angeles, London, Vancouver, Montreal, Stuttgart and Seoul.
It’s the second major M&A deal in the VFX space this month, after game-development software vendor Unity said it will buy Peter Jackson’s Weta Digital technology and tools business for $1.625 billion.
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