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
The Graphics Group, which was one-third of the Computer Division of Lucasfilm, was launched in 1979 with the hiring of Catmull from NYIT, where he was in charge of the Computer Graphics Lab. He was then reunited with Smith, who also made the journey from NYIT to Lucasfilm, and was made director of The Graphics Group. At NYIT, the researchers pioneered many of the CG foundation techniques—in particular the invention of the alpha channel (by Catmull and Smith). Years later, the CGL produced a few frames of an experimental film called "The Works". After moving to Lucasfilm, the team worked on creating the precursor to RenderMan, called REYES (for "renders everything you ever saw") and developed a number of critical technologies for CG—including "particle effects" and various animation tools.