http://www.pixar.com/companyinfo/history/1986.html
In 1986, Steve Jobs purchased the computer graphics division of Lucasfilm Ltd, consisting of 44 employees, for $10 million, renaming the division 'Pixar' and establishing it as an independant company.
Pixar began with creating 3D computer animations in short films and television advertisments for other companies (aswell as a new logo for the paramount company), until 1991, when it began working with Walt Disney Studios to develop, produce and distribute three feature length animated films. Four years later, 'Toy Story' was released to theatres, being recognised as the first fully computer generated feature length film aswell as becoming the highest grossing film of 1995, being distributed by Disney. With the huge profit made from the film, Pixar made the move to making the company public, allowing the company to expand, as well as making a new agreement with Disney to produce five more feature films. As the company's experience grew, with the production of further short films, the use of innovative technology became an important element in the company's progression, with enhancements of hair and cloth in 3D animation.
By 1998, Pixar had released 'A Bug's Life', becoming another worldwide success, with the release of 'Toy Story 2' a year later, the first film to be entirely created digitally, where it broke opening weekend box office records in the United Kingdom.
After the release of further successful animated films, Disney's agreement with Pixar was at its end and Disney's attention had turned to a takeover of the company. In 2006, the Walt Disney company purchased Pixar through an "all stock transaction of $7.4 billion". The merge brought together Disney's historic franchise of animated characters, such as Mickey, Minnie Mouse and Donald Duck, with Pixar's stable of computer animated experience, with recent hits including 'Finding Nemo' and 'Cars'.
In 1986, Steve Jobs purchased the computer graphics division of Lucasfilm Ltd, consisting of 44 employees, for $10 million, renaming the division 'Pixar' and establishing it as an independant company.
Pixar began with creating 3D computer animations in short films and television advertisments for other companies (aswell as a new logo for the paramount company), until 1991, when it began working with Walt Disney Studios to develop, produce and distribute three feature length animated films. Four years later, 'Toy Story' was released to theatres, being recognised as the first fully computer generated feature length film aswell as becoming the highest grossing film of 1995, being distributed by Disney. With the huge profit made from the film, Pixar made the move to making the company public, allowing the company to expand, as well as making a new agreement with Disney to produce five more feature films. As the company's experience grew, with the production of further short films, the use of innovative technology became an important element in the company's progression, with enhancements of hair and cloth in 3D animation.
By 1998, Pixar had released 'A Bug's Life', becoming another worldwide success, with the release of 'Toy Story 2' a year later, the first film to be entirely created digitally, where it broke opening weekend box office records in the United Kingdom.
After the release of further successful animated films, Disney's agreement with Pixar was at its end and Disney's attention had turned to a takeover of the company. In 2006, the Walt Disney company purchased Pixar through an "all stock transaction of $7.4 billion". The merge brought together Disney's historic franchise of animated characters, such as Mickey, Minnie Mouse and Donald Duck, with Pixar's stable of computer animated experience, with recent hits including 'Finding Nemo' and 'Cars'.
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