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Some major esports-related news this morning at Infinite Reality has announced they will be acquiring the esports organization ReKTGlobal. According to what’s been released today, the company has entered into a definitive merger agreement to acquire the esports-based business for a $470 million all-stock deal, which was based on an equity valuation for iR of $2 billion, for a combined post-close valuation of $2.47 billion. That is a massive deal for any esports outfit in the world looking at the situation right now.
As part of the deal, Infinite Reality will integrate ReKT’s four key business divisions into their own, which include esports franchises, marketing and partnership services, talent management, and technology products. What will become of the teams and everyone involved with this is yet to be discussed, the deal still needs to go through, but at no point was it said they would continue to operate under their current systems. So once this is finalized, we expect great changes within the organization. Here’s a few quotes from today’s announcement on the deal.
“This acquisition is another step in our journey towards becoming the leading Metaverse Entertainment company in the world,” said Infinite Reality CEO John Acunto. “The synergies across our combined business units from content creation to Web3 entertainment to APIs and more are awe inspiring. We look forward to working with ReKTGlobal’s senior leadership to integrate our valuable combined assets and accelerate Infinite Reality’s growth.”
“We are extremely excited to announce this acquisition to all of our investors, employees, and clients, as well as all Rogue and Royal Raven fans around the world,” said Amish Shah, ReKTGlobal Founder and Chairman. “Our journey does not end today. We are beginning the next chapter in our evolution into the Metaverse. The explosive combination of our shared collective assets together creates a dominant, unstoppable force in the marketplace.”
“We believe that the future of business, entertainment, socializing, and learning will be conducted in digital environments and that iR is the company that will bring it all to life,” said ReKTGlobal co-founder and CEO Dave Bialek. “We will employ the incredible 150,000 square foot production facilities at Thunder Studios to create the digital twins of our gaming and creator brands, as well as the many businesses, municipalities, and brands who also wish to take the transformative step. With many thanks to John Acunto and Rodric David and the many brilliant and creative minds at iR who recognized the synergies between our companies and quickly and innovatively snapped the pieces together.”
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