The animation studio Steve Jobs bought from Lucasfilm in 1986 was Pixar.
Jobs purchased Lucasfilm’s computer graphics division in February 1986 for about $5 million and invested additional money in the new independent company. The division became Pixar, a name associated with its advanced computer graphics hardware and software.
Pixar initially worked on computer hardware, including the Pixar Image Computer, while also producing computer animation and advertisements. Its short films demonstrated the creative potential of its technology. The studio’s partnership with Disney eventually led to Toy Story, released in 1995.
The company is sometimes described as being founded entirely by Jobs, but Pixar’s roots were inside Lucasfilm, and Edwin Catmull and Alvy Ray Smith were central technical and creative leaders. Jobs served as chairman and helped turn Pixar into a successful public company and media business.