Unity is buying the technology assets of Weta, the visual effects house for Oscar-winning Lord of the Rings, for $ 1.625 million.

Drive TechnologiesThe company behind the game engine of the same name is buying the technology assets of Peter Jackson’s Weta Digital VFX house, it has been revealed.

The two firms have reached a definitive agreement that will see Unity acquire Weta Digital’s proprietary technology for $ 1.625 billion, and the purchase will consist of a combination of cash and shares. The deal is expected to be finalized before the end of 2021.

Based in Wellington, New Zealand, Weta was founded in 1993 by Jackson, Richard Taylor and Jamie Selkirk in order to produce the digital special effects work for Jackson’s film. Celestial creatures. It would later rise to fame as the effects studio behind Jackson’s enormous success. The Lord of the rings and Hobbit movie franchises and was also involved with the effects on James Cameron Avatar (He is currently working with Cameron on the sequels as well.)

More recently, Weta has worked on films such as Jungle Cruise, The Suicide Squad and Black widow. Weta has won several Academy and BAFTA awards over the past decades.

The deal effectively splits Weta in two; the half that Unity has acquired will continue to be called Weta Digital and are essentially the technology “assets” of the original Weta. However, Peter Jackson will remain in control of his visual effects business, a separate company now known as WetaFX.

Weta Digital’s Prem Akkaraju will become CEO of WetaFX, while Joe Marks, Weta’s CTO, joins Unity to oversee Weta Digital. Unity will also benefit from Weta’s 275 engineers and take on the company’s proprietary technology, including the company’s cloud service and tools, such as the ‘Manuka’ and ‘Gazebo’ renderers, the hair and skin system. ‘Barbershop’, physics ‘Loki’. simulation tool based on and its facial capture technology.

Unity is famous for its work in the field of game engines, and its Unity engine is used in thousands of games, including, apparently, the latest Pokemon input on Switch. However, Unity is looking for ways to expand into new areas, one of which is “virtual production” in television and movies.

Speaking about the deal, Jackson said:

The Weta Digital tools created limitless possibilities for us to bring to life the worlds and creatures that originally lived in our imaginations. Together, Unity and Weta Digital can create a path for any artist, in any industry, to take advantage of these incredibly creative and powerful tools. Giving aspiring creatives access to Weta Digital technology will be nothing short of a game changer and Unity is the company that will make this vision a reality.

Unity President and CEO John Riccitiello added:

We’re thrilled to democratize these industry-leading tools and bring the genius of Sir Peter Jackson and Weta’s incredible engineering talent to life for artists around the world.