San Francisco-based 3D game developer Unity Software is buying the tech division of New Zealand-based Weta Digital in a deal worth $1.625bn in cash and shares.
Weta Digital is the company most famous for allowing majority owner Peter Jackson to create fantasy characters for Avatar, Lord of the Rings and Planet of the Apes. The company was founded in 1993. The deal covers Weta’s VFX tools and a team of 275. The deal will allow the VFX tools to be used by a wider base of fantasy content creators via SaaS subscription. The development of the gaming market is expected to be a big focus for 3D content. WetaFX CEO Prem Akkaraju commented “We’re Jimi Hendrix, and now we’re selling guitars. We think this world has many, many more Jimi Hendrixes.”