Metaverse builder Infinite Reality closes US$ 470M deal for esports organization

Metaverse builder and entertainment company, Infinite Reality (iR) recently closed a deal to acquire esports and entertainment conglomerate ReKT Global, Inc. for $470 million. This brings the combined entity at a combined post-close valuation of US$ 2.47 billion. 

This acquisition, to be settled in stocks, will merge the offices of iR and ReKT offices in in New York, Los Angeles, Las Vegas, Charlotte, London, and Berlin and integrate the latter’s assets and brands into iR, which involves its esports team franchises, talent management, technology products, and marketing services.  

This also marks Infinite Reality’s first investment in competitive esports and enables it to bring its community into Web3 and Metaverse. iR can tap into ReKT’s platform that currently offers ‘creative tools covering social, gaming, virtual and remote production, NFT minting, UGLC, and Metaverse creation.’ 

The acquisition seeks to push iR forward and further position itself at the forefront of Web3, creator empowerment and opportunities in the Metaverse. 

Speaking of the acquisition, Infinite Reality CEO John Acunto says, ‘All of us at Infinite Reality are thrilled to have concluded the acquisition of ReKTGlobal. ReKT's senior leadership team adds tremendous insight and experience, and the various businesses align strategically with Infinite Reality's push to become the world leading Metaverse innovation and entertainment company. The whole is most definitely greater than the sum of its parts.’

 Amish Shah, ReKTGlobal Founder and Chairman adds on the excitement  by saying, ‘This is the beginning of the exciting next chapter in ReKT's evolution, and it is firmly planted in the future. With the unlimited potential opportunity in the Metaverse, our two companies can and will blaze a trail of innovation that will be a dominant, unstoppable force in the marketplace for decades to come.’

ReKTGlobal is a digital entertainment organization that focuses on esports. It is backed by a number of investors with sports-related backgrounds such as NBA center Rudy Gobert, NFL safety Landon Collins, and ATP player Taylor Fritz.

Infinite Reality (iR), is a ‘Metaverse builder’ that provides tools and services for creating the Metaverse and enhancing user-experiences. The company was created from the integration of social e-commerce platform Display Social, the entertainment production company Thunder Studios, and Metaverse creator Infinite Metaverse.

Photo: Ultraliga