In General XR News
October 4, 2024 – Infinite Reality (iR), a company working in artificial intelligence (AI), spatial computing, extended reality (XR), and other immersive technologies, has recently announced a strategic investment in and proposed partnership with Super League Enterprise, Inc. (SLE), a provider of immersive activations and player engagement solutions. In the transaction, iR will acquire 9.9% of Super League’s outstanding shares through a share exchange, with iR Board Chair, Clark Callander, joining the Super League board.
The companies have also entered into an exclusivity agreement to complete a follow-up transaction, which would see iR acquire an additional 75% of SLE shares. This would give iR a majority stake and a second seat on Super League’s board. As part of the deal, iR has committed up to USD $20 million in cash, along with access to a USD $30 million credit facility, with the terms yet to be finalized.
This follow-on investment would also involve the transfer and integration of certain iR properties and rights to help support diversification, audience and revenue growth, and market expansion, according to iR.
“Super League’s ability to access millions of global fans on a monthly basis makes them a perfect fit for us,” said John Acunto, co-founder and CEO of Infinite Reality. ”Everyday an overwhelming majority of young people play video games and spend time with other forms of immersive media such as augmented and virtual reality. Now with Super League joining our family of brands, we are in a great position to extend our content and technology to millions.”
Under the agreement, Super League will receive a license to produce events and sell sponsorships for the Drone Racing League (DRL), a sports property with over 100 million fans worldwide. However, iR will retain the underlying intellectual property of DRL, including patents.
Additionally, Super League will take ownership of several iR assets, including Thunder Studios, an Emmy-winning production company; TalentX, a talent management firm for creators and influencers; and Fearless Media, a digital marketing agency specializing in the entertainment, retail, education, and technology verticals. The inclusion of iR’s esports assets remains pending approval from relevant leagues.
Super League’s Chair and CEO, Ann Hand, stated: “Joining the Infinite Reality family is game-changing. Our combined audience-based assets now offer unparalleled market reach, delivering ROI-driven results for brands and IP owners. Immersive experiences are the future of advertising, and our merger positions us at the forefront. With our combined technologies, we can engage digital natives in today’s gaming and entertainment platforms while preparing for the next frontier: web-based virtual worlds where brands will drive consumer interactions.”
Infinite Reality and Super League noted that the transaction comes as the digital landscape continues to evolve—with 500 million people playing, shopping, and socializing in 3D worlds, and Gen Z spending an average of 156 minutes daily on platforms like Roblox—presenting an enormous opportunity for brands.
The companies added that the combination of SLE’s content creation tools and iR’s immersive technology assets will help to position Super League as an end-to-end solutions provider for brands looking to target younger audiences, including Millennials, Gen Z, and Gen Alpha.
Amish Shah, co-founder and Chief Business Officer of Infinite Reality, added: “This union goes beyond merging companies; it is about shaping the future of digital interaction. Together, we will bridge traditional digital media with emerging 3D worlds, serving youth culture, content creators, and businesses alike.”
Infinite Reality will continue to hold full control of its other strategic properties, including its ‘iR Engine’ 3D engine, ‘iR Studio’ SaaS solution, and ‘iR Enterprise Solutions’ – formerly Landvault, which iR acquired earlier this year for USD $450 million.
For more information on Infinite Reality and its AI and immersive technology solutions, click here. To learn more about Super League and its immersive solutions for brands and advertisers, click here.
Image / video credit: Infinite Reality / Super League Enterprise, Inc. / YouTube
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About the author
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.