Unity, whose engine is used to build games across mobile, PC and consoles, has reportedly held takeover talks with a consortium including Silver Lake and Saudi Arabia's Public Investment Fund (PIF). The discussions concern ownership of the developer-tools company, with no agreed deal or changes to engine licensing announced in the report.

Reuters reported on November 5, in an article carried by CNA, that the investors approached Unity in recent weeks. People familiar with the confidential discussions said the group had discussed a valuation of about $25 billion before Unity's latest earnings report.

Unity is working with an investment bank to assess its options, according to those sources. They cautioned that a transaction is not certain and that its terms and plans could change. Unity declined to comment to Reuters; Silver Lake and PIF did not immediately respond.

The two investors were also part of the consortium that took Electronic Arts private in a $55 billion deal, which Reuters says closed in August. Silver Lake already owns roughly 8% of Unity, having invested up to $400 million in 2017.

The approach comes as Unity's business is growing. Its latest quarterly revenue rose 32% to $622.1 million, and growth in its Vector advertising platform helped it record its first quarterly GAAP profit since going public in 2020, Reuters reported.

Unity's licensing terms are a separate question

For studios building games with Unity, the ownership discussions follow an earlier reversal over how the engine would be paid for. In September 2024, Unity canceled its proposed Runtime Fee for games and returned to seat-based subscriptions, including for Unity 6.

Unity's published 2026 pricing lists Personal as free for customers with up to $200,000 in revenue and funding. Pro costs $2,310 per seat when prepaid annually, following a 5% increase for Pro and Enterprise that began applying to renewals on January 12, 2026.

Those are existing subscription terms, not conditions of the reported takeover. Reuters' account does not set out a buyer's plan for engine pricing or support for developers.