Metaverse technology specialist Infinite Reality has completed its US$470 million acquisition of esports and entertainment conglomerate ReKTGlobal.
The takeover is based on an equity valuation of US$2 billion, for a combined post-close valuation of $2.47 billion.
The deal will see Infinite Reality incorporate ReKT’s entertainment and esports business into its range of creative tools. This integration covers areas such as social, gaming, virtual, remote production, non-fungible token (NFT) minting and metaverse creation.