Unity Technologies Inc., a developer of graphics software used to design video games, is working with financial advisers to prepare for a U.S. listing that could take place later this year, according to people with knowledge of the matter.<\/p>\n
The San Francisco-based company is considering an initial public offering that could happen as early as the fall, the people said, asking not to be identified because the information is private.<\/p>\n
The company has tapped Goldman Sachs Group Inc. to lead the offering, the people added. Unity\u2019s plans aren\u2019t final and the timing could still change.<\/p>\n
Unity\u2019s revenue growth rate is above 30% and gross margins are over 80%, its Chief Executive Officer John Riccitiello\u00a0said last month. PitchBook estimates the company\u2019s last private market value to be about $6.3 billion.<\/p>\n
Software companies has been a sweet spot within the technology sector. The U.S. companies that went public in the past year in the space jumped 78% since their debut on a weighted-average basis, while IPO broadly rose 28%, according to data compiled by Bloomberg.<\/p>\n
Representatives for Goldman Sachs and Unity Technologies declined to comment on any plans.<\/p>\n
\u201cWe are laser-focused on the success of our customers and on the health and safety of our employees. We do not comment on future financing plans,\u201d a Unity spokesperson said.<\/p>\n
Unity Technologies, which counts Sequoia Capital and Silver Lake Partners, among backers, is a development platform for 2D, 3D, virtual and augmented reality games and experiences. It powers half of the available PC, console and mobile games, according to its website.<\/p>\n
Unity also has a mobile ads business. Developers can choose to have ads show up in their games, giving them a way to make money beyond in-game content and charging for the games themselves.<\/p>\n
Last year, a former Unity executive, Anne Evans, accused Riccitiello in a lawsuit of sexual harassment and threatening to derail her career. The allegations against Riccitiello are false, a spokesperson said.<\/p>\n
The company last month named Scott Pitasky, a former executive at Amazon.com Inc and Microsoft Corp. as the chief people officer, it said in a statement.<\/p>\n
Unity Technologies Inc., a developer of graphics software used to design video games, is working with financial advisers to prepare for a U.S. listing that could take place later this year, according to people with knowledge of the matter.<\/p>\n","protected":false},"author":341034,"featured_media":212128,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[9],"tags":[10004,11042],"class_list":["post-354887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","tag-ipo","tag-unity"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/354887"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=354887"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/354887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/212128"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=354887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=354887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=354887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}