Article of the Week - Steve Jobs

Steve Jobs
Sold Pixar to The Walt Disney Company
for $7.4 billion in 2006

Steven Paul Jobs (February 24, 1955 – October 5, 2011) was an American businessman and inventor widely recognized as a charismatic pioneer of the personal computer revolution. He was co-founder, chairman, and chief executive officer of Apple Inc. Jobs was co-founder and previously served as chief executive of Pixar Animation Studios; he became a member of the board of directors of The Walt Disney Company in 2006, following the acquisition of Pixar by Disney.

In 1986, Jobs bought The Graphics Group (later renamed Pixar) from Lucasfilm's computer graphics division for the price of $10 million, $5 million of which was given to the company as capital.

The new company, which was originally based at Lucasfilm's Kerner Studios in San Rafael, California, but has since relocated to Emeryville, was initially intended to be a high-end graphics hardware developer. After years of unprofitability selling the Pixar Image Computer, it contracted with Disney to produce a number of computer-animated feature films that Disney would co-finance and distribute.

On January 24, 2006, Jobs and Iger announced that Disney had agreed to purchase Pixar in an all-stock transaction worth $7.4 billion. When the deal closed, Jobs became The Walt Disney Company's largest single shareholder with approximately seven percent of the company's stock.

In the late 1970s, Apple co-founder Steve Wozniak engineered one of the first commercially successful lines of personal computers, the Apple II series. Jobs directed its aesthetic design and marketing along with A.C. "Mike" Markkula, Jr. and others.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Steve Jobs"