Metaverse technology specialist Infinite Reality has finalized its $470 million purchase of esports conglomerate, ReKTGlobal, in a deal which will see the former incorporate the latter’s entertainment and esports business into its range of creative tools. Said integration will cover social, gaming, virtual, remote production, NFT minting, and metaverse creation. The merger will also see Infinite Reality continue its expansion into the Web 3 space, using ReKT’s reach into fan communities.
“All of us at Infinite Reality are thrilled to have concluded the acquisition of ReKTGlobal,” said John Acunto, Chief Executive of Infinite Reality. “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.”
With the deal finalized, ReKTGlobal Co-Founders Dave Bialek and Amish Shah join Infinite Reality’s leadership team. Additionally, offices in New York, Los Angeles, Las Vegas, Charlotte, London, and Berlin will now be combined into one entity.
(All information was provided by SportsPro Media)
Check out the industry-leading META Business podcast where we discuss the intersection of business and the metaverse