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MoFo Advises Unity in Acquisition of Assets of Weta Digital for $1.6B

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MoFo advised Unity (NYSE: U), a leading platform for creating and operating real-time 3D content, in connection with an asset carve-out acquisition from Weta Digital, for certain assets including its audio-visual effects development and management

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MoFo advised Unity (NYSE: U), a leading platform for creating and operating real-time 3D content, in connection with an asset carve-out acquisition from Weta Digital, for certain assets including its audio-visual effects development and management software tools for a purchase price of $1.625 billion in a combination of cash and stock. Weta Digital is a New Zealand-based premier creator and innovator of visual effects and animation for a wide variety of award-winning movies and television shows, such as Avatar, Black Widow, Game of Thrones, Lord of the Rings, Planet of the Apes, The Suicide Squad, and more.The MoFo deal team advising Unity was led by corporate partner Eric McCrath and technology transactions partners Tessa Schwartz and Justin Haan, together with corporate associates Matt O’Donnell, Julie Siegel, and Samantha Glazer and technology transaction partner Aaron Rubin, of counsel Anthony Ramirez, and associates Katherine Devries, Jackie Li, Gilbert Choi, Wendy Chu, and Reid Knabe.Read more in Unity’s <a target="_blank" href="https://unity.com/our-company/newsroom/unity-announces-intent-acquire-weta-digital">press release</a>.

MoFo Advises Unity in Acquisition of Assets of Weta Digital for $1.6B

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Eric T. McCrath is the Chair of Morrison Foerster.Eric has been a trusted advisor on hundreds of public and private M&A, private equity, and financing transactions over the course of his career. As part of his market-leading M&A practice, he counsels strategic acquirers and targets in a variety of industries, including technology (semiconductors, software, AR/VR, FinTech, AI), healthcare, consumer products, financial institutions, media, gaming, and transportation. He represents leading U.S. and global companies and regularly advises on complex cross–border transactions.Eric is regularly recognized by leading publications, including Legal 500 US and Chambers USA, with client sources describing him as “greatly skilled at advising on the most complex and high–profile M&A transactions,” and noting that he “combines strong technical skills and a flair for complexity with commercial awareness, pragmatism and sound judgment.”Eric joined Morrison Foerster as a partner in 2007. He has held multiple leadership roles at the firm prior to being elected chair in June 2022. He has been a member of Morrison Foerster’s Executive Committee since 2016, the Compensation Committee since 2019, has served as Global Co-Chair of the firm’s Corporate Department of over 400 lawyers since 2018, and has also held a number of practice leadership roles.A diverse lawyer of Asian heritage, Eric is also one of the longest-standing members of Morrison Foerster’s Diversity Strategy Committee, having served since 2010.

Eric McCrath

Chair

Tessa Schwartz has an active practice counseling companies on intellectual property issues, and negotiating complex intellectual property and commercial agreements. She advises on a range of strategic transactions, including key patent licenses and acquisitions, technology procurement agreements, and complex development, collaboration, joint-venture and distribution deals. Tessa also regularly advises companies on the IP aspects of their M&A transactions.In addition to maintaining an active practice and working with clients on a daily basis, Tessa currently serves as co-chair of the firm’s Transactions Department. Tessa is also founder and co-chair of the Artificial Intelligence Group.Tessa advises clients primarily in technology and data intensive sectors, representing artificial intelligence (AI), robotics, machine learning, software, SaaS, cloud computing, hardware, consumer electronics and products, social media, Internet, mobility and wireless, e-commerce, advertising, healthcare, fintech, transportation, semiconductor, and other companies. Tessa’s M&A experience includes advising Autodesk, BlackBerry, Fortive, Honeywell, Salesforce, Uber, Unilever, Unity, Walmart, and others on the IP aspects of strategic transactions. Tessa provides clients with prelitigation and litigation advice. She frequently advises executives and senior management on strategic business, legal and commercial issues, including the structuring of transactions, risk management and contract compliance. She also counsels clients with respect to a wide variety of IP issues, including patent exhaustion and implied licenses, standing and standards, the protection of data and other trade secrets and the development and distribution of open-source software.In addition to her transactional expertise, Tessa’s litigation background includes representing clients in arbitration, as well as in state and federal courts in such areas as antitrust, false advertising, unfair competition, breach of contract, securities, trademark, copyright and trade secret law. Her litigation experience includes complex, multidistrict and class action litigation, as well as appellate advocacy.Tessa has been ranked in Chambers and Legal 500, with clients describing her as, “one of the best attorneys I've ever worked with.” Tessa has been recognized by Chambers USA 2022 as being highly experienced in the field of technology and intellectual property transactions. Clients have commented on Tessa as having "...the ability to translate complex topics into what's necessary to get a deal done. She does a good job of making our technology accessible”. Further, Tessa "ticks all of the essential boxes, timely, efficient, knowledgeable and helpful, but she really stands out by taking time to learn our business and our products so she can give practical and actionable advice. Tessa helps us focus on key issues and balance risks to make choices."Tessa’s pro bono efforts have included work for The Biomimicry Institute, Goodwill, Common Sense Media, Business for Social Responsibility, The World Wildlife Fund, Build Change and the Sustainability Accounting Standards Board (SASB). She also provides IP advice to a variety of cultural, media and arts organizations; and other assistance for nonprofits. She recently received the Wiley W. Manuel Award for Pro Bono Legal Services from the State Bar of California.Tessa received her B.A. magna cum laude from Harvard College in 1991. In 1996, she earned her J.D. from the University of California at Los Angeles, where she was elected to the Order of the Coif.Tessa served as global managing partner of Morrison Foerster from 2016 to 2022 and previously served as co-chair of the firm’s Technology Transactions Group.

Tessa Schwartz

Partner

Justin Haan is a partner in the firm’s Technology Transactions Group in the San Francisco office, advising leading technology industry pioneers to help them navigate their most critical IP and technology needs.Justin’s practice focuses on transactions and counseling involving intellectual property and technology, including licensing arrangements, technology transfers, and joint development activities. Justin structures, drafts, and negotiates a wide range of commercial agreements, including software and content licenses, service agreements, reseller arrangements, and collaboration, manufacturing, supply and distribution agreements. He advises clients on the development, procurement and commercialization of cutting-edge technologies, including artificial intelligence, machine learning, augmented/virtual reality, semiconductors, cloud computing services, autonomous vehicles, and unmanned aircraft systems. Justin also counsels clients on open source software, complex patent-related transactions, and the intellectual property aspects of M&A transactions. Justin’s experience includes advising OpenAI, Arm, Autodesk, Meta, Salesforce, SoftBank, Unity, and others on the IP aspects of complex projects involving cutting-edge technologies and fast-evolving areas of law. Justin serves on the firm’s AI industry committee, where he helps to lead and collaborate with attorneys across multiple practices on the rapid advances of generative AI. Justin is also a sought–after speaker and thought leader on artificial intelligence and has spoken at SXSW on the subject of multimodal AI.Before joining the firm, Justin was an intellectual property associate in the New York office of another global law firm.Justin received his J.D., with a certificate in law and technology, from the University of California, Berkeley School of Law, where he won the Prosser Prize in intellectual property in the entertainment industries and was an articles editor for the Berkeley Technology Law Journal. He received his A.B. from Harvard University.

Justin Haan

Matthew O'Donnell is a partner in the firm's Mergers + Acquisitions Group in the San Francisco office. His practice focuses on corporate transactions and other general corporate matters, with an emphasis on U.S. and international/cross-border M&A and other strategic transactions.Prior to joining Morrison Foerster's San Francisco office, Matthew was an associate in the firm's Tokyo office. He earned his J.D. from Columbia Law School, where he was an editor of the Columbia Law School Science and Technology Law Review, and his B.A. from Williams College.

Matt O'Donnell

Samantha Rose is a corporate associate in the San Francisco office of Morrison Foerster. Her practice focuses on advising clients on domestic and cross-border corporate matters, including mergers and acquisitions, joint ventures, minority investments/venture financings, and corporate governance.Samantha represents publicly and privately held companies, entrepreneurs, venture capital and private equity investors, and financial and strategic acquirers in a variety of industries, including technology, consumer products, e-commerce, and financial services.Samantha also has an active role in the firm’s pro bono efforts, recently working on the California Small Enterprise Task Force (CASE Force), a consortium of legal, financial, and nonprofit professionals leading the development and implementation of the California Rebuilding Fund. She has demonstrated a long-standing commitment to diversity and inclusion, and currently serves as Chair of the Latinx Affinity Group for the San Francisco office. Prior to joining the firm, Samantha served as an Honors Program Legal Intern with the U.S. Securities and Exchange Commission (SEC).Samantha earned her J.D. magna cum laude from the Georgetown University Law Center, where she was elected to the Order of the Coif. While there, Samantha served as Senior Development Editor of the Georgetown Law Journal and President of the Corporate & Financial Law Organization (CFLO). In addition, Samantha was selected as a member of the inaugural cohort to study the intersection between business and law as a Business Law Scholar. She holds a B.S. with highest distinction from the University of Virginia.

Samantha Rose

Associate

Aaron is the chair of the firm’s Technology Transactions Group and co-chair of the Interactive + Digital Media Group. He advises clients on a wide range of complex transactions involving intellectual property and technology, including structuring and negotiating strategic licensing, development, collaboration, procurement, and distribution deals.Aaron’s practice focuses on advising both established and emerging companies in a variety of data- and technology-intensive sectors, including software, SaaS, cloud-based technology, digital media (social media, AR/VR, gaming, streaming media, AdTech), AI, healthcare, consumer electronics, e-commerce, other online business models, and mobile applications. He also maintains an active practice counseling companies on branding and marketing, trademark licensing, and content-related transactions, as well as the intellectual property aspects of mergers, acquisitions, asset spin-offs, and private equity investments.He has represented clients such as Autodesk, Meta, OpenAI, Splunk, Konami, Kaiser Permanente, SoftBank, Visa, and Yahoo, among others.Aaron has been recognized by numerous publications for his work on market-defining technology transactions. He is currently ranked by Chambers USA for “Technology Transactions.”Aaron also serves as co-editor of Socially Aware, the firm’s award-winning newsletter and blog devoted to the law and business of social media, and regularly publishes on various IP and technology-related topics. Aaron is also a sought-after speaker on new and emerging areas of law, and is a frequent presenter and panelist at conferences and legal services programs. In addition to his active practice, Aaron regularly provides pro bono assistance to various nonprofit and charitable organizations such as Common Sense Media and the Starlight Children’s Foundation. He is a member of the board of directors of California Lawyers for the Arts.While in law school at the University of California, Berkeley, Boalt Hall School of Law, Aaron served as executive editor of the California Law Review and was elected to the Order of the Coif. Following law school, Aaron served as law clerk to the Honorable William H. Orrick and the Honorable Martin J. Jenkins, both United States District Judges for the Northern District of California.

Aaron P. Rubin

Anthony Ramirez is a partner in the Technology Transactions Group in the New York office of Morrison Foerster.Anthony advises clients on general commercial and transactional matters. He regularly advises companies on the IP aspects of their M&A transactions. His clients include technology, digital media and content for television and music, financial services, and communications companies with diverse intellectual property assets and issues.His practice focuses on the legal aspects of developing, licensing, and commercializing technology and intellectual property, as well as negotiating general commercial contracts, including outsourcing transactions, as well as content and data licenses. He regularly assists clients with legal issues relating to licensing and commercialization of digital media and content, digital content that is distributed over the Internet or streamed, mobile applications and social media, as well as the licensing of recorded music for distribution via digital platforms. Anthony is also experienced with issues relating to open-source software, software development, artificial intelligence and machine learning, cloud-based technology, and protection of proprietary information.Anthony has extensive experience working on matters involving disruptive technologies, such as blockchain. He has helped fintech clients with general intellectual property issues in connection with terms of service for online financial products and services.Anthony is an integral part of the outside pro bono legal team for nonprofit organizations based in New York, including advising clients on legal issues regarding entertainment, social media, privacy rights, and the negotiation of outsourcing and service agreements. Anthony received his J.D. from the University of Michigan Law School in 2009. He received his B.S. from Cornell University in 2004.

Anthony M. Ramirez

Reid Knabe is an associate in the San Francisco office of Morrison Foerster and a member of the firm’s Technology Transactions Group.Reid’s practice is focused on transactions involving a broad range of intellectual property and technology, with a particular emphasis on patent licensing arrangements, software and SaaS licenses, and emergent technologies. He regularly works with clients in both the semiconductor and artificial intelligence industries. Reid also counsels clients on issues regarding open source software, blockchain applications, data licensing and distribution, sponsored research, e‑commerce marketplaces, and software development. Reid also advises companies and their financial sponsors regarding the intellectual property aspects of M&A transactions.Reid has experience drafting and negotiating various types of intellectual property licenses, complex patent cross licenses, patent settlement agreements, data licenses and distribution agreements, reseller agreements, and SaaS-related agreements. He maintains an active pro bono practice, assisting clients with general commercial matters as well as intellectual property matters.Before practicing law, Reid worked in various finance roles within Spotify’s content licensing, marketing, and ad sales departments. His practice is also informed by previous operational experience at both a seed‑stage startup and a large financial services institution. He draws on his business background to provide comprehensive advice to clients (both startup and at scale) based on their practical business needs.Reid received his A.B., cum laude, from Princeton University. He earned his J.D. from the University of California, Los Angeles, School of Law, where he was elected to the Order of the Coif and served as the Academic Co-Chair for the Intellectual Property Law Association.