Written by Dante Uzel on 24 April 2024 10:42
Infinite Reality announced the acquistion of Drone Racing League. The company will pay $250m for the acquisition. The acquisition increased the valuation to $3.5b. Infinite Reality is the parent company of Ethereal Engine, iR Studios, and esports franchises Rogue (League of Legends) and London Royal Ravens (Call of Duty franchise).
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In collaboration with Infinite Reality, Drone Racing League will introduce professional drone racing stadiums and establish a Formula One-inspired global circuit featuring Championship DRL events. Additionally, they plan to roll out AI-powered sports and entertainment experiences. These initiatives will be done in partnership with U.S. Air Force, Vodafone, WarnerMedia, and Universal Music Group.
John Acunto, CEO of Infinite Reality stated “DRL epitomizes our belief that fans don't just want to sit in a stadium or watch broadcast highlights on social media. The future of sports and entertainment involves new and disruptive formats that are wildly more immersive. Now, with our combined assets, iR and DRL are set to usher in a new era of sports entertainment, powered by cutting edge tech and fueled by fandom, creativity and community.”
DRL President Rachel Jacobson stated "When I joined the Drone Racing League four years ago, we set out to blitzscale the growth of the league across our fans and media, and I am so proud of the DRL team and this milestone. Together with Infinite Reality, we are well-positioned to accelerate the future of technology-driven media and entertainment. We will blur the line between the digital and the real like never before and ignite massive fandom with younger generations who demand the most immersive experiences.”
Tags: Infinite Reality
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