Infinite Reality has acquired ReKTGlobal, the owner of Rogue, one of the well-known esports organizations and the London Royal Ravens, the Call of Duty esports team.
Infinite Reality has purchased all assets of ReKTGlobal with a fee of $470M. With this acquisition, Rogue, London Royal Ravens, audiovisual content creation management TalentX Entertainment and digital marketing agency Fearless Media are now officially owned by Infinite Reality.
Statements came from the parties related to the purchase
Here's a statement by ReKTGlobal explaining the importance of the acquisition in transforming them into a metaverse:
“We're thrilled to officially announce that ReKTGlobal and all of its assets have been purchased by Infinite Reality. We believe this is the next chapter in our evolution into the metaverse.”
ReKTGlobal considers this agreement as a mutually beneficial one. Amish Shah, co-founder and chairman of ReKTGlobal said:
“We’re going to come together and our strategy is not going to change, it’s just going to get bigger… we want to be a 10, 20, $30 billion company and we think we can get there quicker. Staying standalone like, I think we could only get to one or two billion in the next three years, but doing this with John and crew we can get there quicker and faster.”
John Acunto, CEO of Infinite Reality stated:
“This acquisition is another step in our journey towards becoming the leading Metaverse Entertainment company in the world.”
Shah stated that with this acquisition, no employees will be replaced, and there will be no layoffs in any of the companies owned by ReKTGlobal.
It is quite exciting for the sector and the future of the sector for companies investing into esports.
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