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UPDATE: Unity Raises Over $1.3B In IPO With Market Cap Of $18B+

PUBLIC OFFERING | ANNOUNCEMENT DATE: 18 SEP 2020
WRITTEN BY | 19 Sep 2020
UPDATE: Unity Raises Over $1.3B In IPO With Market Cap Of $18B+
PUBLIC OFFERING

💵 IPO

  • San Francisco-based video game engine developer Unity Software raised gross proceeds of over $1.3B+ with trading started on September 18, 2020

    • Unity offered 25 million shares (app. 9.5% of outstanding shares) of common stock at a $52.00 price per share

    • 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)

  • Unity filed for an initial public offering on the New York Stock Exchange under the ticker “U” on August 24, 2020

🧩 Unity Acquisitions

  • 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:

    • 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

    • 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

    • In December 2019, acquired 100% of Artomatix, provided of AI and machine learning-powered tools, for $39m in cash and $10m of common stock

  • 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

  • In August 2020, Unity acquired Spain-based Codice Software, creator of leading version control tool Plastic SCM, for an undisclosed price

🎲 Products

  • 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

  • Unity generates revenue through 3 primary business divisions

    • Operate Solutions — offering content monetization functionality and end-user acquisition optimization with revenue-share and usage-based monetization models

    • Create Solutions — used to create interactive 2D and 3D content with monthly subscriptions

    • Strategic Partnerships and Other

SOURCES: BUSINESSWIRE

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Unity Technologies
  • Established in 2004 as Over the Edge Entertainment in Denmark

  • Registered as Delaware corporation Unity Software Inc. in 2009

  • Headquarters – San Francisco, United States with a total of 44 offices in 16 countries

  • Team of 3,379 employees with 55%+ employees involved in R&D activities

  • Founded by Nicholas Francis, David Helgason and Joachim Ante

  • Software development company behind famous game development Engine Unity, the world’s leading platform for creating and operating interactive, real-time 3D content