Navarre Corporation has announced that it is putting FUNimation, its anime subsidiary, up for sale and has retained Houlihan Lokey to assist in the transaction.  The company said that the strategies required to grow FUNimation’s business (co-productions of original anime content, social networks, and digital broadcasting) were “best executed with ownership that has assets or expertise in those areas.”

Navarre did not indicate that financial performance was a reason for the divestiture, noting that “FUNimation’s recent results have generally met expectations.”