Unity-Weta Digital deal: ‘The Lord of the Rings’ visual effects studio sells for $1.6 billion

The cash-and-stock deal will see US platform acquire Weta Digital’s “tools, pipeline, technology and engineering talent,” the companies said in a statement on Tuesday.

“This acquisition is intended to put Weta’s incredibly exclusive and advanced visual effects tools in the hands of millions of creators and artists around the world,” the statement said.

Meanwhile, in the game world, Unity is famous for its development software, which: using studios to create hits like “Fall Guys”, “Pokémon Go” and “Call of Duty”: mobile.”

“Together, Unity and Weta Digital can create a path for any artist, from any industry, to use these incredibly creative and powerful tools,” Jackson said in the statement. “Offering aspiring creatives access to Weta Digital’s technology will be nothing less than game-changing and Unity is just the company to bring this vision to life.”

Weta Digital’s visual effects teams will continue to exist as a standalone entity known as WetaFX, under the majority ownership of Jackson, the statement said.

The acquisition is expected to close in the fourth quarter of 2021 from Unity.

The companies also said they plan to work together to shape the future of the “metaverse” — a word that has become trendy in the tech world since Facebook said last month the company would rebrand itself to focus on virtual reality and augmented reality.

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