Software engine development company Unity has now acquired Weta Digital, one of the biggest digital platforms in the world, for $1.6 billion, with an aim towards growing both properties.
Both Unity and Weta Digital entered a mutual agreement this week and are looking to build both companies together.
Weta originally came about from the efforts of director Peter Jackson. It was in charge of the digital designs for some of the biggest movies and companies in the world. These include the likes of Game of Thrones, Lord of the Rings, The Avengers, and more.
Unity to integrate Weta’s entire workforce
The agreement connects both Weta and Unity together, with the latter absorbing the former under their umbrella. This converts Weta’s pool of 275 employees as part of Unity’s workforce. The deal also adds all of Weta’s creations, assets, tools, and specialized software.
Prem Akkaraju, the current CEO of Weta, will remain in his position. On the other hand, Weta CTO Joe Marks will move to Unity under the same position. Both companies expect the deal to push through the end of fiscal year for 2021.
“Unity is the best at delivering world-class tools and technology to creators. Together we have the opportunity to make Weta Digital’s award-winning, high-end artist pipeline and tools, which are in a class by themselves, accessible to a much broader audience of artists than what has been historically possible,” noted Akkaraju in a press release.
“Weta’s goal has always been to inspire and motivate a whole new generation of creators and it’s exciting to pass the mantle over to Unity. I see a future where more and more content shares the same level of visual fidelity as Avatar and Game of Thrones and Unity is the ideal company to lead us into this future.”
Unity adding more companies
The acquisition of Weta Digital is not the last acquisition for Unity so far. Furthermore, the company has consistently added new companies to its portfolio. Earlier this year, Unity added screen-sharing platform Parsec for $320 million.
“We are thrilled to democratise these industry-leading tools and bring the genius of Sir Peter Jackson and Weta’s amazing engineering talent to life for artists everywhere,” noted Unity president and CEO John Riccitiello.
“By combining the power of Unity and Weta Digital, the tools and technology that built characters and scenes from the world’s most iconic films such as Avatar, Lord of the Rings, and Wonder Woman, will enable an entirely new generation of creators to build, transform, and distribute stunning RT3D content.”
Featured image courtesy of Weta Digital/Youtube Screenshot