Mickey Mouse and Buzz Lightyear will soon be living under the same roof. The Walt Disney Company has agreed to acquire Pixar Animation Studios – the company responsible for hit computer-animated films including “Toy Story” and “Finding Nemo”.
Disney is paying six billion euros in a stock transfer deal to be completed later this year. The news has been welcomed by Wall Street, though some analysts said the price was excessive.
Under the deal, Disney will surrender creative control of its world famous animation studio to Pixar bosses. Disney has worked in partnership with Pixar since the early Nineties. The last six films they worked on together grossed more than two-point-six billion euros worldwide.
Combined, the companies are expected to be a formidable force in the family entertainment market.