Infinite Reality (iR), an artificial intelligence (AI) and immersive technology company, has acquired UK-based Landvault in a deal valued at $450m (£351m).
Landvault specialises in digital twins and immersive technology for Fortune 500 companies and government organisations.
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It offers a suite of tools and infrastructure for creating, hosting, measuring, and monetising immersive experiences.
In conjunction with the acquisition, iR has secured a $350m investment from an undisclosed private multi family office, with a focus on technology, media, and real estate sectors.
This equity investment boosts iR’s valuation to $5.1bn and is distinct from the company’s ongoing SPAC transaction plans.
The fund raise and the acquisition will support iR’s goal to lead in spatial computing and AI-powered technologies, enhancing brand engagement and monetisation opportunities.
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By GlobalDataIntegrating Landvault’s tools and expertise is expected to enhance iR’s capability to deliver high-fidelity virtual worlds.
Landvault’s team will join iR, uniting their employees and creative teams to advance iR’s offerings.
Additionally, Landvault’s operations in the Middle East will continue, extending iR’s global reach and supporting existing projects and client relationships in the region.
Sam Huber, founder and CEO of Landvault, will assume the role of global president of enterprise and CEO of the MENA region.
Infinite Reality co-founder and CEO John Acunto said: “Now, having joined forces with Landvault and secured this $350mn fundraise, we possess robust capitalisation, financial flexibility, and a fortified position from which to successfully execute our global go-to-market strategy.
“Adding Landvault, with their substantial presence in the Middle East and Europe, supports our plans for market expansion and helps establish the Infinite Reality brand as a global leader in immersive tech.”
Huber added: “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.
“Together, we will continue to push the boundaries of what is possible today, creating unparalleled experiences for business and consumers worldwide.”
This acquisition follows iR’s previous purchases, including The Drone Racing League for $250m, Ethereal Engine for $75m, Action Face for $10m, and the $8m deal for Stakes.
