Silver Lake, a private equity firm has agreed to invest $400 million in Unity Technologies, revealed John Riccitiello, the CEO of Unity.
This investment values the game development software based in San Francisco at $2.6 billion. The deal still needs to be approved by the regulators, Riccitiello said. He also mentioned that about half of the money will allow some of the employees and early shareholders to cash out.
“A big chunk of it is secondary and that’s because it makes sense to let employees buy cars,” he said. “In terms of primary capital we don’t ultimately need all that primary capital—the capital is safety when we’re investing to grow as fast as we are.”
Unity Technologies was founded back in 2004, has become of the most popular game engines, with titles developed using the engine reaching 2..4 billion devices, the company said. Riccitiello went on to say, “The second act that I think attracts a lot of investors and investor interest is the fact that we have about 70 percent of AR and VR content built on Unity. We’ve got a first wave that is going really really well and we have a second one that is dominant.”
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