Wednesday, July 6, 2022

Infinite Reality Completes $470M Acquisition of ReKTGlobal

Los Angeles-based Infinite Reality said on Tuesday that has completed its $470M acquisition of esports and entertainment company ReKTGlobal. The company said the merged company has a post-close valuation of $2.47 billion. Infinite Reality said it will incorporate ReKTGlobal's entertainment and esports business into its social, gaming, virtual and remote production, NFT minting, UGLC, and Metaverse creation efforts. The company said the acquisition will also put it into the area of esports, as it is acquiring two esports teams, League of Legends team Team Rogue and Call of Duty League's London Royal Ravens.

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