Peter Jackson has sold its New Zealand-based VFX company Weta Digital for $ 1.625 billion to Unity Software, a 3D game development platform. That’s a good deal of change!
It is explained that in the agreement, the VFX tools that have been used to bring projects like Lord of the Rings, Game of Thrones, Avatar, The Suicide Squad, Marvel movies, and planet of the Apes to life will be made available to creators around the world. That’s right, this amazing technology is being made available for everyone to use! The tools will be released using a cloud-based workflow, “with software-as-a-service pricing announced later.” All this is done to “ultimately enable the next generation of real-time 3D content for the metaverse.”
Under the agreement, Unity Weta will receive the Digital package of VFX tools and technology and its team of 275 engineers, who will join Unity’s Create Solutions division.
Jackson said in a statement, “Weta Digital’s tools created unlimited possibilities for us to bring to life the worlds and creatures that originally lived in our imagination. Together, Unity and Weta Digital can create a path for any artist, from any industry, to be able to Taking advantage of these incredibly creative and powerful tools. Offering hopeful creative access to Weta Digital’s technology will be nothing short of game-changing, and Unity is the company to bring this vision to life. “
John Riccitiello, Unity’s President and CEO, added: “We are excited to democratize these industry-leading tools and bring to life the genius of Sir Peter Jackson and Weta’s amazing engineering talent for artists everywhere.”
Weta went on to say that they have a goal of inspiring other creators, adding, “We are Jimi Hendrix, and now we sell guitars. We believe this world has many, many more Jimi Hendrixes.”
Weta Digital’s VFX and animation team known as WetaFX will continue to exist as a standalone entity. It is expected to become Unity’s largest customer in the media and entertainment field. WetaFX, with about 1,700 employees, will remain majority-owned by Jackson and led by CEO Prem Akkaraju. The proposed agreement is expected to be completed by the end of 2021.
Here is an advertising trailer that was released:
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