Oscar-nominated film and television studio XTR has acquired Late Night Labs, an AI film and animation studio that describes itself as artist-led. With the acquisition of Late Night Labs and its proprietary AI technology, XTR is launching and creating a holding company, Asteria Film Co., which will focus on producing animation, fiction and nonfiction film and television, and will also house XTR’s Documentary+ streaming platform and Fast channel.

Asteria Film Co. is named after the Greek goddess of the constellations and was co-founded by Bryn Mooser, a filmmaker and entrepreneur. The studio expects to launch its first projects later this year. Financial terms of the deal were not disclosed.

“Late Night Labs has built the Pixar of AI. They are a best-in-class team of animators, engineers and artists, and have built groundbreaking new technology that allows artists and filmmakers to unlock their creativity like never before,” Mooser said. “They are empowering filmmakers, not replacing them, by amplifying their vision and ultimately making more stories possible.”

“We’re thrilled to launch and build Asteria with Bryn,” said Benjamin Michel, co-founder of Late Night Labs. “Bryn is leading the industry in this work by innovating and creating new formats of entertainment — first in virtual and augmented reality with his latest company RYOT, and then in distribution and production with XTR.”