Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

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<p>Unity Software Inc, a game software development company, is getting ready to complete its IPO in the U.S. in the next few weeks. The company was originally founded in Denmark in 2004 and is now headquartered in San Francisco. The company is best known for the development of Unity, a licensed game engine used to creae video games and other applications. The Unity game software engine can be used in a wide variety of platforms including mobile, desktop, consoles, and virtual reality.</p>
<p>The company has initially put the IPO placeholder at $100 million but it has been reported that the company could raise up to <a href="https://www.nasdaq.com/articles/game-development-platform-unity-software-files-for-an-estimated-%241-billion-ipo-2020-08-24" target="_blank" rel="noopener">$1 billion</a>. The lead underwriters of this IPO include Goldman Sachs and Credit Suisse.</p>
<p>In Korea, Kakao Games broke all kinds of bookbuilding demand results as it has shown to be one of the most exciting IPOs in the games sector in 2020. In the U.S., Unity Software Inc is clearly one of the most exciting IPOs in the games sector and this IPO is likely to generate very high demand as well. Among the upcoming software/platform related IPOs, Snowflake appears to have the most explosive growth prospects but Unity Software appears to have one of the best overall points, including its dominance in interactive, real-time 3D games related software platform, excellent sales growth, rapidly declining operating margins as a percentage of sales, and an accelerted path to a positive operating profit.</p>
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Unity Software Inc, a game software development company, is getting ready to complete its IPO in the U.S. in the next few weeks. The company was originally founded in Denmark in 2004 and is now headquartered in San Francisco. The company is best known for the development of Unity, a licensed game engine used to creae video games and other applications. The Unity game software engine can be used in a wide variety of platforms including mobile, desktop, consoles, and virtual reality.
The company has initially put the IPO placeholder at $100 million but it has been reported that the company could raise up to $1 billion. The lead underwriters of this IPO include Goldman Sachs and Credit Suisse.
In Korea, Kakao Games broke all kinds of bookbuilding demand results as it has shown to be one of the most exciting IPOs in the games sector in 2020. In the U.S., Unity Software Inc is clearly one of the most exciting IPOs in the games sector and this IPO is likely to generate very high demand as well. Among the upcoming software/platform related IPOs, Snowflake appears to have the most explosive growth prospects but Unity Software appears to have one of the best overall points, including its dominance in interactive, real-time 3D games related software platform, excellent sales growth, rapidly declining operating margins as a percentage of sales, and an accelerted path to a positive operating profit.


Unity Software IPO - Even Better Than Snowflake IPO?

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<p>Unity Technologies is in the process of prepping for an IPO this year. The company develops the Unity game engine which is widely used to develop video games, particularly mobile and indie games. The market for game engines is mostly split between Unity and Epic Games’ Unreal Engine though larger game developers can use their own in-house developed engines. With this attractive situation on offer to the two companies, we examine below whether the market is likely to be bifurcated or result in clash for market share. We also highlight the moves both companies have been making to strengthen their online gaming functionality.</p>

Unity Technologies is in the process of prepping for an IPO this year. The company develops the Unity game engine which is widely used to develop video games, particularly mobile and indie games. The market for game engines is mostly split between Unity and Epic Games’ Unreal Engine though larger game developers can use their own in-house developed engines. With this attractive situation on offer to the two companies, we examine below whether the market is likely to be bifurcated or result in clash for market share. We also highlight the moves both companies have been making to strengthen their online gaming functionality.

Unity Technologies Pre-IPO – Unlikely to Dethrone Unreal Engine in AAA But Watch the M&A Strategy

United States

Unity Software Inc. provides software solutions. The Company offers graphic tools to create, run, and monetize real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. Unity Software serves customers worldwide.

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Unity Software (U US)

Unity Software IPO - Even Better Than Snowflake IPO?

Unity Software Inc, a game software development company, is getting ready to complete its IPO in the U.S. in the next few weeks

Douglas Kim

Unity Technologies Pre-IPO – Unlikely to Dethrone Unreal Engine in AAA But Watch the M&A Strategy

Unity Technologies is in the process of prepping for an IPO this year. The company develops the Unity game engine which is widely used to develop...

Mio Kato

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