Gaming AR/VR Experience Platforms sector
Strategic acquirers, private equity (buyout funds and growth funds) firms, and valuation benchmarks for Gaming AR/VR Experience Platforms
1.1 - About Gaming AR/VR Experience Platforms sector
Companies in the Gaming AR/VR Experience Platforms category provide development toolkits, content platforms, and runtime services that enable studios to design, build, and launch immersive titles across VR headsets and AR-capable devices. They deliver engines, SDKs, networking, analytics, and monetization infrastructure that reduce build complexity and optimize performance, helping customers ship high-fidelity, cross-platform experiences and operate them at scale.
Offerings typically include VR game engines and cross-platform XR frameworks with spatial mapping, occlusion, and hand tracking, alongside AR development SDKs for mobile and wearable devices. Vendors support multiplayer networking, voice chat, and presence systems, integrate haptic feedback and controller APIs, and provide cloud rendering and streaming. They round out the stack with in-app commerce, ad mediation, user analytics, telemetry, and live-ops tools for updates, balancing, and events.
Primary customers include AAA and indie game studios, mobile game publishers, and gaming hardware OEMs seeking differentiated AR/VR catalogs. These companies enable faster time-to-market for immersive titles, higher player engagement and retention through better performance and interaction, broader device compatibility across headsets and phones, and improved monetization via commerce, ads, and live-ops, while lowering development risk through standardized tooling and managed services.
2. Buyers in the Gaming AR/VR Experience Platforms sector
2.1 Top strategic acquirers of Gaming AR/VR Experience Platforms companies
Niantic
HQ: United States
Website
- Description: Provider of augmented reality software and location-based mobile gaming platforms that encourage real-world exploration, delivering AR experiences, development tools and services that enrich physical-world interaction for consumers and enterprises.
- Key Products:
- Peridot Beyond: Mobile AR pet experience enabling users to care for virtual “Dots”, play cooperatively and explore outdoor environments with friends for shared real-world engagement
- Scaniverse: 3D scanning application that lets users capture, share and digitally document real-world scenes and objects, aiding preservation and community storytelling after events such as wildfires
- Morpheus: Text-driven method that transforms Gaussian-Splat captured 3D scenes, allowing independent geometry and color edits, consistent multi-view stylization and user-aligned outputs
- 3D Scanning & Localization Platform: Enterprise technology that instantly positions real-world objects inside mixed-reality environments like Sphere without QR codes, streamlining remote spatial collaboration.
- Company type: Private company
- Employees: ●●●●●
- Total funding raised: $●●●m
- Backers: ●●●●●●●●●●
- Acquisitions: ●●
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2.2 - Strategic buyer groups for Gaming AR/VR Experience Platforms sector
M&A buyer group 1: Gaming Engines
6 companies
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Description: Companies in the Gaming Engine Development Platforms category design, license, and support core software that powers real-time interactive experiences. These vendors provide programmable 2D/3D engines, integrated editors, and production toolchains that teams use to create, optimize, and ship games across PC, console, mobile, and XR. By delivering cross-platform runtimes, asset workflows, and performance tooling, they streamline development, accelerate production schedules, and enable ongoing live updates.
Epic Games
- Type: N/A
- Employees: ●●●●●
- Description: Provider of interactive entertainment and 3-D game-engine technology offering an end-to-end digital ecosystem that lets developers build, distribute and operate games and other content via the Epic Games Store and online services; publishes hit titles such as Fortnite, Fall Guys and Rocket League, and supplies its technology to film, broadcast, architecture, automotive and simulation industries.
- Key Products:
- Voice Chat Service: Enables real-time, cross-platform voice communication for players, integrating easily into any engine and store environment to enhance multiplayer engagement
- Achievements Service: Provides configurable cross-platform achievement tracking and display, allowing developers to reward player milestones uniformly across different stores and devices
- Matchmaking Service: Supplies scalable, platform-agnostic matchmaking that pairs players based on criteria set by developers, streamlining multiplayer session creation across consoles
- PC and mobile
- Account Services: Offers a shared account and social graph system letting users log in with Epic or third-party identities (PlayStation
- Xbox
- Switch
- Apple
- Steam) and maintain unified friends lists across games.
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Key Products: ████████, ████████, ████████, ████████
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Buyer group 3: ████████ ████████
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Key Products: ████████, ████████, ████████, ████████
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3. Investors and private equity firms in Gaming AR/VR Experience Platforms sector
3.1 - Buyout funds in the Gaming AR/VR Experience Platforms sector
2.2 - Strategic buyer groups for Gaming AR/VR Experience Platforms sector
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4 - Top valuation comps for Gaming AR/VR Experience Platforms companies
4.2 - Public trading comparable groups for Gaming AR/VR Experience Platforms sector
Valuation benchmark group 1: Software Developer Tools Companies
4 companies
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Description: Companies in this group provide developer-centric software tools and cloud services that enable planning, building, testing, securing, and deploying applications. They monetize through subscriptions, licenses, and usage-based consumption. They are grouped as public trading comparables because they target similar developer workflows, exhibit recurring revenue characteristics, and maintain software-like gross margins, offering consistent valuation benchmarks for the developer tooling and DevOps ecosystem.
Atlassian
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of collaboration, development, and issue-tracking software designed to help teams organize, plan, and manage their work effectively. Offers tools for project management, content collaboration, code management, and IT service management.
- Key Products:
- Jira Software: Project management and issue tracking tool for planning, tracking, and releasing software
- Confluence: Content collaboration platform for knowledge sharing and documentation
- Trello: Visual project management tool for organizing tasks and projects using boards, lists, and cards
- Bitbucket: Git code management solution for teams to collaborate on code development
- Jira Service Management: IT service management tool for creating and managing service requests and incidents
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Revenue growth
Median
15.7%
2025E
16.0%
2026E
EBITDA margin
Median
28.2%
2025E
28.6%
2026E
Cash EBITDA margin
Median
27.6%
2025E
28.0%
2026E
EV/Revenue
Median
8.4x
2025E
6.8x
2026E
EV/EBITDA
Median
28.9x
2025E
24.4x
2026E
EV/Cash EBITDA
Median
29.0x
2025E
25.5x
2026E
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