Netflix has bought the rights to adapt best-selling book franchise "Lemony Snicket's 'A Series of Unfortunate Events'" into an original television series, says The Hollywood Reporter.

"On the search for fantastic material that appeals to both parents and kids, the first stop for generations of readers is 'A Series of Unfortunate Events," said Cindy Holland, vice president for Original Content at Netflix in a statement.

"The world created by Lemony Snicket is unique, darkly funny and relatable. We can't wait to bring it to life for Netflix members," she added.

Snicket, the narrator of the books, shared his excitement about the deal in a statement via Netflix, saying: "I can't believe it. After years of providing top-quality entertainment on demand, Netflix is risking its reputation and its success by associating itself with my dismaying and upseting books."

The statement continued, "Mr. Snicket's participation will be limited, given his emotional distress, but the project has the full involvement of his legal, literary and social representative, who is often mistaken for him."

Snicket is the pen name of the series' author Daniel Handler.

The adaptation will be produced by the online streaming service company in association with Paramount Television, according to Variety.

Paramount produced the well-received 2004 movie adaptation of the first book in the series called "Lemony Snicket's A Series of Unfortunate Events." It starred Jim Carrey, Meryl Streep and Jude Law.

The story of "A Series of Unfortunate Events" revolves around three orphaned children - Violet, Klause and Sunny Baudelaire - and the challenges they face at the hands of the evil Count Olaf while searching for the reason behind their parents' death.

The adaptation is Netflix's latest addition to its roster of family-oriented original series, according to Deadline. Apart from the DreamWorks animated series they have, the online streaming service company also recently acquired the rights to adapt AwecomenessTV's "Richie Rich" into an original TV series.