Unity Software Inc Stock Price, News & Analysis

Unity has completed the acquisition of Weta Digital's tools and technology for US$1.625 billion in cash and stock, marking a significant move to democratize advanced content creation tools for millions of creators. This acquisition includes Weta's engineering talent of 275 engineers and industry-leading tools used in blockbuster films like Avatar and Lord of the Rings. The deal will enhance Unity's real-time 3D offerings and aims to empower a broader audience of artists and developers.

Unity Software Inc. (NYSE: U) announced the pricing of $1.5 billion in 0% Convertible Senior Notes due 2026 in a private placement. The company has granted initial purchasers an option to buy an additional $225 million of Notes. Net proceeds are expected to be approximately $1.48 billion, earmarked for general corporate purposes and strategic investments. The initial conversion rate is 3.2392 shares per $1,000 principal amount, with a conversion price of about $308.72 per share, representing a 57.5% premium. The offering's closing is anticipated on November 19, 2021.

Unity (NYSE: U) has released two reports highlighting a growing demand for multiplayer and cross-platform games. The Cross-Platform Gaming Study shows that 56% of Americans played multiplayer games last year, with 87% playing cross-platform. The State of Live Gaming in 2021 Report emphasizes the importance of post-launch content, revealing that mobile games can see up to an 86% increase in in-app purchases following updates. Unity's new platform, Unity Gaming Services, aims to help developers create and manage these engaging game experiences.

Unity Software Inc. (NYSE: U) has announced a private placement of $1.5 billion in Convertible Senior Notes due 2026. The offering will be available to qualified institutional buyers. An additional $225 million in Notes may be purchased by initial buyers. The notes are general unsecured obligations that will accrue interest semiannually, with conversion options including cash and stock. Proceeds will fund capped call transactions and general corporate purposes, including potential acquisitions.

Unity has launched two new products, Unity Simulation Pro and Unity SystemGraph, designed to enhance simulation performance and reduce operational costs. Unity Simulation Pro enables distributed rendering, achieving simulation speeds over 5000 fps with 32 GPUs, while cutting simulation overhead by 50%. Unity SystemGraph provides an intuitive node-based editor for simulating complex systems, making it easier for engineers to prototype and test without hardware access. These innovations aim to support the growing autonomous systems industry, with demonstrations scheduled at the Unity AI Summit on November 18, 2021.

Unity Software Inc. reported third quarter 2021 revenue of $286.3 million, marking a 43% increase year-over-year and surpassing expectations. The company raised its full-year revenue guidance to 40% growth. Unity also announced a definitive agreement to acquire Weta Digital, enhancing its capabilities in visual effects and expanding its market reach. Despite a net loss per share of $0.41, there was notable improvement in cash flow and customer growth, with 973 customers generating over $100,000 of revenue.

Unity (NYSE: U) has signed a definitive agreement to acquire Weta Digital for US$1.625 billion in cash and stock. This acquisition aims to integrate Weta’s award-winning VFX tools into Unity’s platform, enhancing accessibility for millions of creators worldwide. Weta Digital’s engineering talent and exclusive tools like Manuka and Lumberjack will be utilized to advance RT3D content creation. The partnership is expected to democratize high-end VFX technology, ultimately shaping the future of the metaverse while placing Weta Digital as Unity’s largest customer in the Media and Entertainment sector.

ShiftPixy, Inc. (NASDAQ: PIXY) announced the promotion of Amanda Murphy to Chief Operating Officer, effective January 1, 2022. Murphy has been with the company since 2016, serving as Director of Operations and joining the Board in April 2020. CEO Scott Absher highlighted her critical role in the company’s success and the importance of her leadership as ShiftPixy embarks on its next growth phase following the completion of its SPAC, Industrial Human Capital, Inc. (NYSE: AXH/U). ShiftPixy aims to revolutionize employment in the Gig Economy through its innovative human capital management platform.

Unity (NYSE: U) has launched Unity Gaming Services in beta, aimed at simplifying cross-platform and multiplayer game development for all developers. The service integrates seamlessly with existing Unity tools, allowing developers to bring games online quickly. Key features include a unified dashboard for performance insights, and a pay-as-you-scale pricing model. This initiative responds to increasing market demand for multiplayer experiences and aims to lower entry barriers for developers. Unity Gaming Services supports various platforms, with console support coming soon.