Infinite Reality, which is a metaverse entertainment and production company, has officially reached an agreement to acquire esports organization ReKTGlobal for $470 million.
The merger will see Infinite Reality integrate ReKTGlobal’s esports properties into their brand, and will include their esports teams (all franchises), marketing and partnership services, talent management, and all of their technology products.
“Both companies are in a massive growth stage and this deal is accretive to both sides with the assets we are combining,” ReKTGlobal Founder and Chairman Amish Shah said, according to EsportsInsider.
“This acquisition is another step in our journey towards becoming the leading Metaverse Entertainment company in the world,” Infinite Reality CEO John Acunto said. “The synergies across our combined business units, from content creation to Web3 entertainment to APIs and more, are awe-inspiring.”
