Infinite Reality Acquires the Drone Racing League for $250 Million, Solidifying Position as Global Leader in Immersive Technology & Experiences
NEW YORK, April 23, 2024 (GLOBE NEWSWIRE) -- In a landmark deal to enhance its immersive platform technology and services, Infinite Reality (“iR” or the “Company”), a leading global provider of cutting-edge virtual, AI-powered immersive experiences, today announced it signed a definitive agreement to acquire the Drone Racing League (“DRL”), the world’s most futuristic sports property. The $250 million acquisition bolsters iR’s capabilities and IP, and boosts its valuation to $3.5 billion. Recognized for accelerating professional drone racing into the mainstream through high tech robotics, AI, visually spectacular content and hybrid competition, DRL marks iR’s latest acquisition as the Company expands its extensive portfolio, which includes spatial web design pioneer, Ethereal Engine, fully integrated entertainment production company, iR Studios, eSports franchises Team Rogue (League of Legends) and London Royal Ravens (Call of Duty), as well as digital media, content and creator services.
- "Infinite Reality revolutionizes fan and customer engagement across platforms, making every moment more interactive, accessible and captivating,” said John Acunto, CEO of Infinite Reality.
- “DRL epitomizes our belief that fans don't just want to sit in a stadium or watch broadcast highlights on social media.
- The future of sports and entertainment involves new and disruptive formats that are wildly more immersive.
- Today, we are incredibly excited to join Infinite Reality, a company that has the vision and resources to take drone racing and our core technology to infinite heights,” said Nicholas Horbaczewski, CEO & Founder of the Drone Racing League.