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Infinite Reality Purchases UK Virtual World Company Landvault For $450 Million – CryptoInfoNet


US immersive technology company Infinite Reality has acquired British metaverse startup Landvault for $450m (£352m).

The all-stock deal will see London-headquartered Landvault’s employees join Infinite Reality.

The deal will give Infinite Reality a foothold in the Middle East, with Landvault’s founder and CEO, Sam Huber, becoming global president of enterprise and CEO of MENA region at Infinite Reality.

“Joining forces with Infinite Reality allows us to leverage their extensive resources and expertise to scale our vision to build the future of the internet even further,” said Huber.

“Together, we will continue to push the boundaries of what is possible today, creating unparalleled experiences for business and consumers worldwide.”

Infinite Reality will integrate Landvault’s tools, including its in-game advertising software for brands to monetize the metaverse.

Landvault has worked with brands including Mastercard, Red Bull, and Heineken, along with the Abu Dhabi government.

Infinite Reality separately announced it has closed a $350m minority investment from a private multi-family office, giving the company a valuation of $5.1bn.

John Acunto, co-founder and CEO of Infinite Reality, said the influx of capital and acquisition of Landvault means the company has “robust capitalization, financial flexibility, and a fortified position” for its “global go-to-market strategy”.

It is the latest in a flurry of deals for Infinite Reality after acquiring The Drone Racing League, Ethereal Engine, Action Face, and Stakes for a combined value of $800m.

Landvault raised $3m in funding in April last year, which was an extension of the startup’s $25m Series B round from 2021. In total, Landvault has raised $40m over the last three years.

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