ReKTGlobal acquired by Infinite Reality in near half-billion-dollar deal
The ReKTGlobal logo. | Provided by ReKTGlobal
Infinite Reality, Inc. has acquired ReKtGlobal, an esports and entertainment company that also owns Rogue and the London Royal Ravens, for $470 million, the companies announced Tuesday, April 12.
ReKTGlobal is an esports conglomerate, essentially a holding company with its fingers in many pies across the esports and gaming space. The owner of Rogue, whose League of Legends roster competes in the LEC, and of Call of Duty League team London Royal Ravens, it also offers marketing and partnership services to brands in and outside of gaming and esports along with talent management and technology products.
Since its founding in 2017, ReKTGlobal has acquired marketing company Greenlit Content, digital media agency Fearless Media, fan engagement platform FullCube and talent management company TalentX (which runs the Sway House, a TikTok influencer collective).
Infinite Reality itself is a metaverse innovation and entertainment company. It helps brands and creators build communities in the metaverse with “integrated social, streaming, and tools to maximize engagements, entertainments and commerce,” according to its website.
Infinite Reality was born out of the combination of social ecommerce platform app Display Social and entertainment production facility Thunder Studios. In February, it was made public through a merger with Universal Security Instruments, Inc.
According to a press release by the companies, the acquisition’s goal is to consolidate ReKTGlobal’s esports business into Infinite Reality’s creative tools across “social, gaming, virtual and remote production, NFT minting, content, and metaverse creation.”
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“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,” said Amish Shah, ReKTGlobal Founder and Chairman.
ReKTGlobal has a list of celebrity investors that include the band Imagine Dragons, Utah Jazz center Rudy Gobert and DJ Steve Aoki.
“We believe that the future of business, entertainment, socializing, and learning will be conducted in digital environments and that [Infinite Reality] is the company that will bring it all to life,” said ReKTGlobal co-founder and CEO Dave Bialek in a press release.