Netflix announced its first-ever acquisition - a cult comic book company
Netflix just made its first acquisition in the history of the company.
Netflix announced it acquired the comic book company Millarworld Monday morning. Millarworld is a small company owned by Mark and Lucy Millar, and is responsible for titles like "Kick-Ass" and "Kingsman." Movie adaptations of Millar's work have grossed nearly $1 billion so far, according to the company.
The company announced that it will be using the popular comic book characters and storylines of Millarworld to develop Netflix Original movies and TV shows. Netflix also said Millar will continue to develop new characters for Netflix after the deal.
Netflix's stock is mostly flat in early trading after the news was released.
The move is the first ever acquisition by Netflix. As the company continues its global expansion, new content helps drive user growth. According to one analyst, Wall Street has severely underestimated the popularity of Netflix's content, and new shows and movies are a big driver of the stock price as well.
Mark Millar previously worked at Marvel and developed some of the most popular comics and story lines in the company's history, according to a news release.
"As creator and re-inventor of some of the most memorable stories and characters in recent history, ranging from Marvel's The Avengers to Millarworld's Kick-Ass, Kingsman, Wanted and Reborn franchises, Mark is as close as you can get to a modern day Stan Lee," Ted Sarandos, chief content officer at Netflix, said in a news release.
Millar said he is excited to be a part of Netflix, and thinks there isn't a "better home" for his comic book company.
Netflix is up 42.07% this year and is currently trading at around $180.20.
