London metaverse firm Landvault has been acquired in a deal worth £350 million.
Infinite Reality has agreed an all-share deal for the firm which serves household name clients with digital twins.
Alongside the deal, the American company has announced a $350m minority investment from a private multi-family office focused on global technology, media, and real estate, increasing its valuation to $5.1 billion.
It is expected that Landvault – which helps brands and governments build, publish and monetise digital twins and immersive experiences – will seek a listing on New York’s Nasdaq exchange in Q3 2024 through a combination with its SPAC partner, Newbury Street Acquisition Corp.
Landvault has built over 1.2 million square feet in virtual experiences for brands including Mastercard, Standard Chartered and Hershey.
It worked with Dentsu on a Cannes Lion-winning campaign created for Heineken, showcasing the company’s ability to blend creativity with emerging technology. Other notable collaborations include projects with Hershey in Decentraland, the World of Women experience in The Sandbox, as well as upcoming high-profile projects and partnerships in the Middle East, including initiatives with the UAE and Saudi Government, local tourism boards and real estate companies.
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Sam Huber, founder and CEO of Landvault, will take on the role of global president of enterprise and CEO of the Middle East and Northern Africa region. Landvault’s existing employees and creative teams will join the Infinite Reality team.
“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 has previously announced acquisitions of The Drone Racing League ($250m), Ethereal Engine ($75m), Action Face ($10m) and Stakes ($8m).
“Having joined forces with Landvault and secured this $350 million fundraise, we possess robust capitalisation, financial flexibility and a fortified position from which to successfully execute our global go-to-market strategy,” said John Acunto, co-founder and CEO of Infinite Reality.
“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.
“We look forward to integrating Landvault’s hundreds of clients into the Infinite Reality family, further enhancing our reach and capabilities.”