Written by Dante Uzel on 09 July 2024 15:55
Infinite Reality, has announced a significant expansion with a $350 million equity investment from a private multi-family office. This investment, separate from Infinite Reality's ongoing SPAC transaction, boosted the company's valuation to $5.1b. The company was known as the owner of Rogue brand in esports. Rogue merged with KOI however after a year parties decided to end the partnership.
Following the news, iR has has announced the acquisition of Landvault, a tech firm renowned for its on metaverse and Digital Twin's used by Fortune 500 companies and government entities. The all-stock acquisition, valued at $450m. Recently Infinite Reality announced the acquisition of Ethereal Engine for $75m.
The acquisition of Landvault is another tuesday for the company following previous acquisitions totaling $800m this year alone, including The Drone Racing League, Ethereal Engine, Action Face, and Stakes.
Sam Huber, Founder & CEO of Landvault, will assume the roles of Global President of Enterprise and CEO for the MENA region (Middle East and North Africa) within Infinite Reality.
According to the release, Infinite Reality plans to leverage its strengthened position to pursue further capital market initiatives, including potential listings in the U.S., Europe, and the Middle East.
The acquisition transaction includes Landvault's tools for local hosting solutions, first-party data management, and monetization SDKs and more.
John Acunto, co-founder and CEO of Infinite Reality stated "Now, having joined forces with Landvault and secured this $350 million fundraise, we possess robust capitalization, financial flexibility, and a fortified position from which to successfully execute our global go-to-market strategy, adding Landvault, with their substantial presence in the Middle East and Europe, supports our plans for market expansion and helps establish the Infinite Reality brand as a global leader in immersive tech. We look forward to integrating Landvault’s hundreds of clients into the Infinite Reality family, further enhancing our reach and capabilities.”
Tags: Infinite Reality
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