Owners Put FUNimation On the Block

Navarre Corp. has announced it is seeking offers to acquire its anime subsidiary FUNimation.

The company has retained Houlihan Lokey to assist in the transaction.

In a press release, the company stated that FUNimation’s business results have ‘generally met expectations,’ but has decided to focus more on its core business of computer software, home entertainment media and related products.

To grow, FUNimation needs to co-produce original anime content and exploit social networks and digital broadcasting ‘ tasks better suited to owners experienced in those areas, the company stated.