Infinite Reality (“iR”), a leading global provider of cutting-edge virtual, AI-powered immersive experiences, and Ethereal Engine (“Ethereal”), a creator of end-to-end frameworks for web-first, social immersive experiences, announced today that the companies have completed a share-for-share acquisition valuing Infinite Reality at $2.5 billion and Ethereal Engine at $75 million.
This latest transaction provides yet another multi-billion-dollar valuation benchmark for Infinite Reality following the December 2023 partnership and equity swap with Greenidge Generation Holdings (Nasdaq: GREE) and the proposed December 2022 go-public deal with Newbury Street Acquisition Corporation (NASDAQ: NBST).
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