Peter Jackson sells special effects firm in US$1.6bil ‘metaverse’ deal

  • VR
  • Wednesday, 10 Nov 2021

Under the deal, Unity takes over Wellington-based Weta Digital’s technology and engineering assets while Jackson (right) retains majority ownership of a standalone film effects company called WetaFX. — AFP

WELLINGTON: New Zealand film director Peter Jackson on Nov 10 announced the sale of his Oscar-winning Weta Digital special effects business to a US software firm intent on using it to develop the virtual-reality “metaverse”.

San Francisco-based Unity Software said the US$1.6bil (RM6.64bil) acquisition would “shape the future of the metaverse”, an immersive 3D version of the Internet tipped to transform workplaces and online interactions.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!



Next In Tech News

AT&T bets on new technology to build US telecom network
GM Cruise may face fines for 'misleading' regulator over accident
Deutsche Bank to review Postbank tech migration - Handelsblatt
Intel wins US appeal to overturn $2.18 billion VLSI patent verdict
Twilio to cut about 5% of total workforce
Caterpillar invests in tech startup Nth Cycle to boost recycling
Verizon announces Netflix, Max streaming bundle for customers
Crypto stocks surge as bitcoin hits fresh 2023 high
Foxconn and Pegatron halt Indian iPhone output due to extreme weather -sources
Intel, Siemens to collaborate on improving manufacturing, energy efficiency

Others Also Read