Pixar
Pixar Animation Studios, commonly referred to as Pixar (), is an American computer animation film studio based in Emeryville, California, that is a subsidiary of Walt Disney Studios, owned by the Walt Disney Company. Pixar began in 1979 as the Graphics Group, part of the Lucasfilm computer division, before its spin-out as a corporation in 1986, with funding by Apple Inc. co-founder Steve Jobs, who became the majority shareholder. Disney purchased Pixar in 2006 at a valuation of $7.4 billion by converting each share of Pixar stock to 2.3 shares of Disney stock, a transaction that resulted in Jobs becoming Disney's largest single shareholder at the time. Pixar is best known for CGI-animated feature films created with RenderMan, Pixar's own implementation of the industry-standard RenderMan image-rendering application programming interface, used to generate high-quality images.
Pixar
In 1982, the team began working on special effects film sequences with Industrial Light & Magic. After years of research, and key milestones such as the Genesis Effect in "" and the Stained Glass Knight in "Young Sherlock Holmes", the group, which then numbered 40 individuals, was spun out as a corporation in February 1986 by Catmull and Smith. Among the 38 remaining employees, there were also Malcolm Blanchard, David DiFrancesco, Ralph Guggenheim, and Bill Reeves, who had been part of the team since the days of NYIT. Tom Duff, also an NYIT member, would later join Pixar after its formation. With Lucas' 1983 divorce, which coincided with the sudden dropoff in revenues from "Star Wars" licenses following the release of "Return of the Jedi", they knew he would most likely sell the whole Graphics Group. Worried that the employees would be lost to them if that happened, which would prevent the creation of the first computer animated movie, they concluded that the best way to keep the team together was to turn the group into an independent company. But Moore's Law also said that the first film was still some years away, and they needed to focus on a proper product while waiting for computers to become powerful enough. Eventually, they decided they should be a hardware company in the meantime, with their Pixar Image Computer as the core product, a system primarily sold to government agencies and the scientific and medical community.