- Infinite Reality has acquired ReKTGlobal, the parent company of Rogue and the London Royal Ravens
- The deal worth $470 million in stock will see Infinite Reality further expand into esports
- ReKTGlobal’s CEO says this is an important step in the esports organization’s future
The metaverse company Infinite Reality has purchased ReKTGlobal in a massive deal in an effort to further expand into esports and entertainment.
Infinite Reality Broadens Its Horizons Thanks to ReKTGlobal
ReKTGlobal, the parent company of esports team Rogue and Call of Duty League franchise the London Royal Ravens, has recently been acquired by the metaverse company Infinite Reality. The deal for a whopping $470 million in stock is still pending approval, according to Forbes.
The deal is based on an equity valuation for Infinite Reality of $2 billion for a combined post-close valuation of $2.47 billion. The deal sees IR acquire all of the ReKTGlobal assets and brands, including the two esports franchises. Multiple other businesses such as Greenlit Content, a content production agency specializing in the games and esports space, and TalentX Entertainment, a talent management company with many high-profile members, are also now the property of IR.
ReKTGlobal founder and chairman Amish Shah said ReKTGlobal is extremely excited to announce the deal. “Our journey does not end today. We are beginning the next chapter in our evolution into the Metaverse,” he added.
In his speech, Shah also explained that the company’s goal is to grow even more from now on. “So, we want to be a 10, 20, $30 billion company and we think we can get there quicker,” he stated. “Staying standalone like, I think we could only get to one or two billion in the next three years, but doing this with John [Acunto, Infinite Reality CEO] and crew we can get there quicker and faster.”
What Does This Deal Mean for Both Parties?
Ever since Facebook’s parent company renamed itself to Meta, the trend of metaverses, a.k.a. virtual spaces for professional work and socialization (imagine a more formal and professional VRChat) seems to have become the new buzz for large tech companies.
Infinite Reality, formerly known as Display Social before making the pivot into the metaverse, aims to become “the leading Metaverse Entertainment company in the world,” as said by its CEO John Acunto. The company’s previous product, the Display Social network worked to pay those posting on the platform a share of ad revenue. If you managed to create a particularly popular post you could earn money from ads shown to users who viewed your content.
Ever since that, Infinite Reality has broadened its horizons into the metaverse and entertainment spheres. This merger with ReKTGlobal will increase its reach into the world of gaming and esports. However, neither party has yet specified any actual products or experiences that will be created. “I can't comment on future plans but let's just say that our fans are going to be really happy with what's to come in the next few months,” said RektGlobal’s Amish Shah.
As for fans of Rogue and the London Royal Ravens, not much will be changing anytime soon. However, the esports organizations will now have access to Infinite Reality’s Thunder Studios, a massive studio in California that has been used for everything from music videos to esports events.