He said his research showed comic book adaptations draw large audiences on the streaming service.
Millarworld's graphic novels "Kick-Ass", "Wanted" and "Kingsman" have already been turned into movies by major studios.
Millar has developed comic books for Marvel and DC Comics, which was acquired by Warner Bros.in 1968. Back in 2013, the company landed a deal with Disney to develop original Netflix series around Marvel TV characters Jessica Jones, Luke Cage, Daredevil and Iron Fist.
The value of the acquisition of the company, which Millar runs with his wife, Lucy, has not been disclosed. Millar's unique mix of action, satire and heart distinguish his stories from everything else on the shelves, and I'm beyond excited to see what Neflix can whip up.
Millar also previously worked for Marvel Comics, where he wrote the storylines that would eventually form the basis of the popular movies The Avengers, Captain America: Civil War and Logan. "Millarworld will also continue to create and publish new stories and character franchises under the Netflix label", the streaming service said of the deal in a statement.
He's so prolific, in fact, that Netflix chief content officer Ted Sarandos calls Millar "as close as you can get to a modern-day Stan Lee".
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"Comics have been my passion my entire life".
Since Millarworld was started, the company and its co-creators have created eighteen published character worlds, of which three, Wanted, Kick-Ass and Kingsman, have yielded theatrical films that together have grossed almost $1 billion (£768 million) in global box office. While fans of the movies may be unhappy, I think every Millarworld project on this list has huge potential to capture the hearts of fans around the world.
The acquisition of Millarworld is likely financially immaterial to Netflix, Raymond James analyst Justin Patterson said. "Netflix is the future and we couldn't be more thrilled to sell the business to them and buckle up for all the fantastic movies and television shows we plan to do together".
Netflix released a video on Twitter announcing the deal and showcasing a number of Millar written comic books with the caption, "Dreams were how we got started". Last month, the company reported second quarter fiscal 2017 earnings that missed our consensus estimate, but it added 5.2 million subscribers.
Shares of Netflix rose 0.6 percent to $181.37 on Nasdaq.