Silver Lake and PIF Approach Unity on $25 Billion Deal

Silver Lake and Saudi Arabia’s Public Investment Fund have approached Unity about a possible acquisition valued at about $25 billion, according to people familiar with the matter. No agreement has been reached, and the terms could change. The discussions began in recent weeks, Reuters reported, citing those people. Silver Lake and the PIF are exploring a potential purchase of the company, which makes the Unity game engine and operates an advertising business. The reported valuation is preliminary, not a confirmed offer or agreed transaction price. Unity has been working with an investment bank to evaluate its options following the approach, according to people cited in the reporting. The company declined to comment, while Silver Lake and the PIF did not immediately respond to a request for comment, one report said. Silver Lake already owns about 8% of Unity, according to the reports. Its director Egon Durban also sits on Unity’s board. One account noted that a director in that position would typically recuse himself from board deliberations on a sale; the sources did not report whether Durban had done so. The proposed valuation was discussed before Unity’s latest financial...