Metaverse company Infinite Reality announced it has entered a deal to acquire esports and entertainment company RektGlobal. The $470 million all-stock deal is based on an equity valuation of IR for $2 billion.
As part of the agreement, IR will incorporate Rekt’s esports teams, including Team Rogue and London Royal Ravens, and entertainment business into its existing creative tools for social, gaming, and the metaverse. This also includes their marketing and partnership services, talent management, and technology products. Rekt will continue to operate independently post-acquisition.
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