Infinite Reality acquires Drone Race League for $250M

Infinite Reality announced it signed a definitive agreement to acquire the Drone Racing League. The $250M acquisition bolsters iR’s capabilities and IP, and boosts its valuation to $3.5 billion. “Infinite Reality revolutionizes fan and customer engagement across platforms, making every moment more interactive, accessible and captivating,” said John Acunto, CEO of Infinite Reality. “DRL epitomizes our belief that fans don’t just want to sit in a stadium or watch broadcast highlights on social media. The future of sports and entertainment involves new and disruptive formats that are wildly more immersive. Now, with our combined assets, iR and DRL are set to usher in a new era of sports entertainment, powered by cutting edge tech and fueled by fandom, creativity and community.” iR plans to go-public through a transaction with Newbury Street Acquisition Corporation.