Peter Jackson, The Lord of the Rings director is selling off his visual effects studio which helped create characters for films like Avatar and Planet of Apes, among others, for $1.6 billion in cash or stock deal.
Jackson is selling his studio, Weta Digital to Unity, which is famous for its development software for video games which the studios use to create hits like “Fall Guys”, “Pokémon Go” and “Call of Duty”: Phones.
The Company said in a statement that the acquisition is designed to put Weta’s incredibly exclusive and sophisticated visual effects tools into the hands of millions of creators and artist around the world.
The statement also added that Weta Digital’s visual effects teams will continue to exist as a standalone entity known as WetaFX, under Jackson’s majority ownership.
Jackson disclosed that together, Unity and Weta Digital can create a path for any artist, from any industry, to take advantage of these incredibly creative and powerful tools.
The companies also said that together, they intend to shape the future of the metaverse, the new development in the world of technology.
