Infinite Realty, Inc. (iR), the Metaverse entertainment and innovation company born from the powerful merger of social e-commerce platform Display Social, leading entertainment production company Thunder Studios and innovative builder of Metaverse Infinite Metaverse, today announced that it has entered into a definitive merger agreement to acquire esports and entertainment conglomerate ReKTGlobal, Inc. in a $470 million all-stock deal, based on an iR equity valuation of $2 billion for a combined post-closing valuation of $2.47 billion. Completion of the transaction is subject to customary closing conditions, including ReKTGlobal shareholder approval, as well as regulatory and other approvals.
Founded in 2017 by industry veterans Dave Bialek and Amish Shah, ReKTGlobal focused on helping authentically activate both mainstream and non-endemic brands in the gaming and esports industries. With its proven and experienced management team, ReKTGlobal is uniquely positioned to help brands engage in the esports and creator markets through services such as content creation, paid media, marketing, influencer activation, fan relationship building and monetization, and more. Acquisition aims to consolidate ReKT’s entertainment and esports businesses into Infinite Reality’s already impressive offering of creative tools spanning social media, gaming, virtual and remote production, NFT typing, content and the creation of Metaverse.
As part of the deal, Infinite Reality will integrate ReKT’s four key business divisions, which include esports franchises, marketing and partnership services, talent management, and technology products. Infinite Reality’s global vision is bolstered by ReKt’s previous acquisitions of content creation and marketing company Greenlit Content; renowned digital media agency Fearless Media; fan engagement and monetization platform FullCube and digital talent management company TalentX Entertainment. Additionally, ReKTGlobal is at the forefront of competitive global esports, thanks to its ownership of League of Legends LEC champions. Team Thief and Call of Duty League London royal ravens . ReKTGlobal currently has offices in New York , Los Angeles , Vegas Charlotte, London and Berlin . Investors in ReKTGlobal include Imagine Dragons Group, Nick Gross son of a billionaire investor Gross invoice DJ Steve Aoki and Summit Partners, to name a few.
“This acquisition is another step in our journey to become the world’s leading Metaverse Entertainment company,” said the CEO of Infinite Reality. John Acunto . “The synergies between our combined business units, from content creation to Web3 entertainment to APIs and more, are impressive. We look forward to working with senior management at ReKTGlobal to integrate our valuable combined assets and accelerate Infinite Reality’s growth.
“We are extremely pleased to announce this acquisition to all of our investors, employees and customers, as well as to all Rogue and king raven fans around the world,” said Amish Shah, Founder and Chairman of ReKTGlobal. “Our journey does not end today. We are beginning the next chapter of our evolution in the metaverse. The explosive combination of our shared collective assets creates a dominant and unstoppable force in the market.”
By integrating the strong assets of both companies, Infinite Reality solidifies its place at the forefront of creator empowerment and metaverse opportunity.
“We believe that the future of business, entertainment, socializing and learning will take place in digital environments and that iR is the company that will bring it all to life,” said the co-founder and CEO of ReKTGlobal. Dave Bialek . “We will use Thunder Studios’ incredible 150,000 square foot production facilities to create the digital twins of our gaming and creator brands, along with the many businesses, municipalities and brands who also want to take the transformational leap. A many thanks to John Acunto and Rodric David and the many brilliant and creative minds at iR who recognized the synergies between our businesses and put the pieces together quickly and innovatively.”
Infinite Reality previously announced that it has entered into a definitive merger agreement with Universal Security Instruments, Inc. (NYSE: UUU), listed on the New York Stock Exchange, and secured a reserve stock purchase agreement with Yorkville Advisors Global, LP for a maximum of $200 million following the merger with Universal Security Instruments. Completion of the announced merger with Universal Security Instruments remains subject to Infinite Reality and Universal shareholder approval, as well as Securities and Exchange Commission approval and NYSE listing.
Cowen is ReKTGlobal’s exclusive financial advisor and O’Melveny is ReKTGlobal’s legal advisor.
This communication contains “forward-looking statements”. Forward-looking statements are generally identified by words such as “may”, “should”, “expect”, “anticipate”, “anticipate”, “could”, “intend”, “target”, “projects”, “intends”, “believes”, “estimates”, “predicts”, “potential” or “continues” or the negative form of these terms or other similar words. These statements are only predictions. Infinite Reality has based these forward-looking statements largely on its then-current expectations regarding future events and the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances beyond the control of each of Infinite Reality. Events could differ materially from those set forth or implied in the forward-looking statements due to a number of factors, including, but not limited to: (i) the r’s risks associated with the ability to obtain the shareholder approval required to complete the proposed transactions and the timing of the closing of the proposed transaction; (ii) the outcome of any legal proceedings that may be brought against the parties and others related to the proposed transactions; (iii) the occurrence of any event, change or other circumstance or condition which could give rise to the termination of the proposed transactions, (iv) statements regarding future events, actions or performance. Accordingly, forward-looking statements are not guarantees and you should not rely on forward-looking statements as predictions of future events. Infinite Reality cannot assure you that the events and circumstances reflected in the forward-looking statements will occur or occur, and actual results could differ materially from those projected in the forward-looking statements. Forward-looking statements made in this communication relate only to events as of the date the statements are made. Except as required by applicable law or regulation, Infinite Reality undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date the statement is made or to reflect the occurrence of a unplanned event.
This communication is not a solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful. prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities under the proposed merger will be made except by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933, as amended.
About Infinite Reality, Inc.
Infinite Reality drives a revolution in data, commerce, online authenticity and digital transparency. Our vision of an open metaverse makes every brand, creator, and fan the master of their own internet experience, their own data, how they distribute content and sell products, and how they interact with each other. with the others. iR provides the tools and services businesses and creators need to build compelling open Metaverse experiences. Our Metaverse Empowerment Group advises, manages, designs, and oversees these custom features drawing on our expert resources in-house and from the creator community. iR’s Entertainment division, anchored by Thunder Studios, provides production, broadcast and streaming services to the world’s top talent, brands and creators. Infinite Reality has all the resources to seamlessly create and deliver content to and from the metaverse. For more information, visit theinfinitereality.com .
ReKTGlobal is at the forefront of what matters most to Gen Z audiences. It’s a cutting-edge digital entertainment organization that helps connect brands to what’s happening now and what’s to come. , from traditional sports and esports to social media, music and more. ReKT is the parent company of digital native brands including championship esports organizations Rogue and the London Royal Ravens, content creator collectives SwayLA and MADGMR, and creator economy/NIL monetization app, Fullcube. ReKT is also home to the esports industry’s strongest media and marketing agencies, consulting brands, properties and influencers. For more information, visit rektglobal.com .
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SOURCE Infinite Reality