Unity is eyeing up an initial public offering, according to a report.

Cheddar claims “people familiar with the matter” say the firm is looking to float in the first half of 2020. That’s only if market conditions are favourable however, the source claimed.

Following previous funding rounds of $400 million in 2017 and $181m in 2016, Unity is thought to currently be valued at around $3 billion.

Democratising development

Unity has become synonymous with the notion of democratising games development since its launch back in 2004.

Its game engine has also become widely adopted in the mobile games industry. According to the company’s own data as of April 2018, 50 per cent of all new mobile games are made with Unity, while more than 40 per cent of the top 1,000 mobile titles also utilise it.

Unity also runs a significant ads business too, which according to a source speaking to Cheddar now makes up around half of the company’s revenue.

In recent times the company has been building closer ties with tech giant Google by moving its entire infrastructure to Google Cloud, as well as partnering up on an open-source matchmaking project and other partnerships.

An IPO or sale has been speculated for a while now, with the former appearing increasingly likely.