• Loading stock data...
Saturday, May 18, 2024

Unity to Buy Weta Digital’s Tech Division for $1.6B

  • Unity Software has agreed to acquire Weta Digital’s technology division.
  • The deal is valued at $1.6 billion.
unity_logo_on_desk
Unity/Design: Alex Brooks

Unity Software, a 3D game-development platform, has agreed to acquire Weta Digital’s technology division for $1.6 billion in cash and stock. 

A visual effects studio founded by “The Lord of the Rings” director Peter Jackson, Weta Digital offers dozens of tools that Unity will leverage to create characters and settings across digital industries, including video games

“This acquisition is all about building out the platform that will be at the center of the metaverse,” D.A. Davidson & Co. analyst Franco Granda told Reuters. 

Weta Digital will remain a standalone entity, but Unity will acquire 275 of the company’s engineers, who are joining its Creative Solutions division.

  • In August, Unity agreed to buy game-streaming app Parsec for $320 million.
  • The same month, it acquired Oto, a system that builds safe gaming environments.
  • In October, it collaborated with UFC to unveil Metacast, an RT3D sports platform.
  • Last month, it also launched Unity Gaming Services, which simplifies game creation. 

Unity generated $286.3 million in revenue in Q3 2021, a 43% increase year-over-year. The company raised its fiscal 2021 revenue guidance following the strong results. 

Full-year revenue is expected to reach as high as $1.085 billion, a 40% increase compared to FY2020.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.

ESPN Narrowly Avoids Disaster on Hurricanes-Rangers Broadcast

The network briefly switched playoff games in crunch time of Canes-Rangers.

Iowa Athletes Sue State, Citing ‘Unconstitutional’ Tracking of Gambling

They claim investigators didn’t get warrants, misled about the purpose of questioning.

Rockies Coach’s Team Plane Cockpit Visit Triggers Federal Investigation

A since-deleted video shows him sitting in the cockpit mid-flight.
podcast thumbnail mobile
Front Office Sports Today

MLB, NBA, NHL Broadcasting Future Goes to Court

0:00

Featured Today

February 5, 2019; Washington, DC, USA; The grounds of the Capitol Building empty out following the conclusion of President Donald Trump's State of the Union speech on February 5, 2019.

‘A Breathtaking Lobbying Campaign’: The NCAA’s Sophisticated Effort to Save Amateurism

Inside the carefully coordinated, multimillion-dollar operation to end the athletes’ rights era.
May 14, 2024

The WNBA Was Forged in Houston. Why Won’t It Go Back There?

Houston’s a perfect fit for expansion. The league isn’t considering it yet.
May 9, 2024; Indianapolis, IN, USA; Indiana Fever guard Caitlin Clark (22) stands with the team during the national anthem on Thursday, May 9, 2024, during the preseason game against the Atlanta Dream at Gainbridge Fieldhouse in Indianapolis.
May 12, 2024

‘Perfect Storm’: The Rise of Local WNBA Broadcast Pacts

With national attention reaching new heights, regional coverage could dictate the future.
Mar 29, 2023; New York, New York, USA; American actors and comedians Chris Rock (left) and Ben Stiller sit court side during the third quarter between the New York Knicks and the Miami Heat at Madison Square Garden.
May 11, 2024

The Haves and Have-Nots: How the Knicks’ Celebrity Row Works

Unwritten rules, an expectation of quid pro quo, and nothing is free.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
FanDuel
Multiple - USA Careers
The Adidas ball has changed over the years.

The Most Advanced Tech at the Women’s World Cup Might Surprise You

This year’s OCEAUNZ introduces connected ball technology to the women’s game.
Sponsored

Creating Fan-Centric Content With AI

WSC’s highlight automation improved the speed of ESPN’s content creation.
Sponsored

Rewriting the Sports Media Playbook

WSC’s highlight automation improved Clemson’s content strategy and overall growth.
Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.
Sponsored

Re-Imagining Storytelling With AI

Amy Anderson, Head of Content Strategy at NASCAR Studios, discusses the role of AI technology in developing and growing new content.
Arial view of Audi testing track
December 4, 2022

Audi Gears Up for F1 with Major New Facility

Audi is building a 10,000 square-foot building to support its F1 efforts.
Woman wears Meta Quest headset while working out to have virtual reality exercise session
November 22, 2022

Meta’s Plans for VR Fitness Could Hit Snag

A government agency is looking to block an acquisition by Meta.
Nike phone advertisement
November 15, 2022

Nike Jumps Further into Metaverse With Virtual Sneaker Platform

The world’s largest sportswear company is taking its talents to the metaverse.