UPDATE: Unity Raises Over $1.3B In IPO With Market Cap Of $18B+
? IPO
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San Francisco-based video game engine developer Unity Software raised gross proceeds of over $1.3B+ with trading started on September 18, 2020
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Unity offered 25 million shares (app. 9.5% of outstanding shares) of common stock at a $52.00 price per share
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Unity’s share close price on September 18 accounted for $68.35 (+31% increase) with the market cap of around $18B trading at 29x EV/Revenue (LTM as of June 30, 2020)
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Unity filed for an initial public offering on the New York Stock Exchange under the ticker “U” on August 24, 2020
? Unity Acquisitions
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Unity has been very active in scaling it’s business and acquiring businesses worldwide. The company has spent around $194m in cash and $34m in stock for strategic acquisitions over 2018-2019. The largest acquisitions are:
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In January 2019, acquired 100% of Mercer Road Corporation (“Vivox”), provider of cross-platform voice and text communication tools, for $119m in cash and $4m of common stock
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In September 2019, acquired 100% of deltaDNA, provider of analytics, messaging, and ad campaign management tools, for $33m in cash and $20m of common stock
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In December 2019, acquired 100% of Artomatix, provided of AI and machine learning-powered tools, for $39m in cash and $10m of common stock
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In April 2020, Unity acquired 100% of Finger Food Studios Inc., creator of developer applications incl. AR/VR technologies, for total consideration of $47m payable in $24m cash and $23m of common stock
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In August 2020, Unity acquired Spain-based Codice Software, creator of leading version control tool Plastic SCM, for an undisclosed price
? Products
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Unity Software is a developer of the world’s leading game engine, that is widely used for the creation of three-dimensional, two-dimensional, VR/AR games and other interactive experiences
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Unity generates revenue through 3 primary business divisions
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Operate Solutions — offering content monetization functionality and end-user acquisition optimization with revenue-share and usage-based monetization models
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Create Solutions — used to create interactive 2D and 3D content with monthly subscriptions
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Strategic Partnerships and Other
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SOURCES: BUSINESSWIRE
