'The Lord of the Rings' director sells most of his visual effects studio for $1.6 billion
CNN
"The Lord of the Rings" director Peter Jackson is selling most of his visual effects studio Weta Digital to Unity, which makes development software for video games, for $1.6 billion.
The cash-and-stock deal will see the American platform acquire Weta Digital's "tools, pipeline, technology, and engineering talent," the companies said in a statement on Tuesday.
"This acquisition is designed to put Weta's incredibly exclusive and sophisticated visual effects tools into the hands of millions of creators and artists around the world," the statement said.
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