ReKTGlobal parent company Infinite Reality goes public

Photo credit: Infinite Reality

Infinite Reality, the parent company of esports infrastructure company ReKTGlobal, has gone public through a business combination agreement with Newbury Street Acquisition Corporation (NBST).

As a result, Infinite Reality is listed on the NASDAQ exchange.

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After the transaction, the funds generated by the IPO will be used to build new infrastructure and expand the company in Europe, North America and Asia. According to a press release, the combination of the companies will generate US$128 million (~£104.1 million). Infinite Reality is primarily focused on creating opportunity within the Web3 and Metaverse sectors.

The acquisition of ReKTGlobal in July marked Infinite Reality’s first foray into the esports industry. As a result of the purchase, Infinite Reality currently owns the European organization Rogue and the London Royal Ravens Call of Duty League franchise.

In addition to acquiring ReKTGlobal, Infinite Reality has partnered with Warner Bros. Discovery Sports to provide a Metaverse experience where fans can connect with their favorite athletes and brands supporting events.

The terms of the deal also include the formation of a new publicly traded company called Infinite Reality Holdings, Inc., consisting of Infinite Reality and NBST.

ReKTGlobal parent company Infinite Reality goes publicEsports Insider has partnered with the University of Warwick for ESI Next Gen. To learn more, click here!

Commenting on the merger, John Acunto, CEO of Infinite Reality said: “We are pleased to announce this business combination and the path for Infinite Reality’s entry into the public market. We continue to empower brands to transform the traditional, static, one-way audience of events and online retail experiences.

“We offer the next iteration of the web with infinite potential for brands to connect with new audiences and deepen relationships with their engaged fans by offering unique, engaging and personalized social experiences while creating new opportunities for commercial monetization.”

Jonno Nicholson

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Jonno is a freelance news writer for Esports Insider and has been part of the ESI team since 2019! His interests include the rapid rise of sim racing and its impact on the industry as a whole.