It had been rumoured for weeks but now the news is official – Sony’s FUNimation Global Group is set to acquire anime powerhouse Crunchyroll for a reported $1.175 Billion.

AT&T’s WarnerMedia group announced the sale today and it’s Chief Revenue Officer Tony Concalves made the following statement:

“The Crunchyroll team has done an extraordinary job of not only growing the Crunchyroll brand but also building a passionate community of anime fans. Crunchyroll’s success is a direct result of the company’s culture and commitment to their fans.

By combining with Funimation, they will continue to nurture a global community and bring more anime to more people. I’m incredibly proud of the Crunchyroll team and what they have been able to accomplish in the digital media space in such a short period of time. They’ve created an end-to-end global ecosystem for this incredible art form.”

Representatives from Crunchyroll were proud to announce their purchase by Sony and assured fans that “Until the deal closes, Crunchyroll and Funimation will continue to operate independently. Regardless of the big news, we’re still the same Crunchyroll we were yesterday and will continue to bring you more anime!”

This certainly is massive news in the anime world and with Crunchyroll continuing to produce more original content and with Sony now behind them, the future is bright for not only the company, but the aforementioned “incredible art form” as well.