A division of Weta Digital, which has worked on films including Lord of the Rings and Avatar, is being bought by video games software company Unity.
Unity's technology is behind games such as Pokémon Go and Call of Duty: Mobile.
The firms say the deal means that Weta's special effects tools will be "democratised".
"Together, Unity and Weta Digital can create a pathway for any artist, from any industry, to be able to leverage these incredibly creative and powerful tools," Sir Peter said in a statement.