Congratulations to our client Weta Digital, a premier visual effects company majority-owned by Sir Peter Jackson and Dame Fran Walsh, on its definitive agreement to sell its VFX technology division to Unity Software (NYSE: U) for $1.625 billion in a combination of cash and Unity stock. As part of the transaction, Unity will acquire Weta’s engineering talent, industry-leading tools, a foundational data platform for interoperable 3D art creation, and a library of thousands of assets. The proposed acquisition is expected to close before the end of 2021 and is subject to customary closing conditions.
The Orrick team advising Weta Digital was led by Stephen Venuto and Leah Recht and included Mark Seneca, Michael Ruiz, Daniel Yost, Pete Elias, Nicole Huang, Fallon Griffin, Jose Lamarque, Christine McCarthy, Steve Malvey, Elizabeth Maas, Jennifer Clarke-Smith, Heather Cron and Kristin Cornuelle, among others. Munger Tolles & Olson served as co-counsel to Weta Digital, while DLA Piper provided local counsel guidance in New Zealand.