Newbury Street: Infinite Reality closes $350M investment, acquires Landvault

Newbury Street Acquisition Corporation announced hat Infinite Reality announced a $350 million minority investment from a private multi-family office focused on global technology, media, and real estate, elevating the Company’s valuation to $5.1 billion. This investment, entirely in equity and not debt, is new and separate from iR’s goal to complete the previously announced SPAC transaction with Newbury Street Acquisition Corporation. The $350 million will be deployed immediately to accelerate growth. Additionally, iR announced the $450 million acquisition of Landvault, a tech company specializing in immersive technology and digital twins for Fortune 500 companies and government organizations. This all-stock transaction solidifies iR’s foundation to lead the revolution in immersive digital environments. The proceeds from the significant investment and the integration of Landvault’s cutting-edge tools and expertise in crafting high-fidelity virtual worlds support Infinite Reality’s aim to be the leader in delivering innovative spatial computing and AI-powered capabilities that empower brands to better engage and monetize their audiences. As immersive experiences and artificial intelligence continue to reshape industries, Landvault stands at the forefront of driving technological advancements. The company’s suite of tools and infrastructure enable the creation, local domain hosting, measurement, and monetization of immersive experiences, accelerating the growth and scalability of the 3-D internet while putting more data in the hands of businesses. An established industry trailblazer, the company has built over 1.2 million square feet in virtual experiences for countless high-profile brands. Following the acquisition, Landvault’s existing employees and creative teams will join the iR team, ensuring continuity and the retention of top talent. Landvault’s presence across the Middle East will also remain operational, expanding iR’s global footprint and supporting ongoing projects and client relationships. Sam Huber, Founder & CEO of Landvault, will take on the new role of Global President of Enterprise and CEO of MENA Region (Middle East and Northern Africa), further strengthening Infinite Reality’s presence and strategic initiatives in the region. As iR continues its go-public strategy in the U.S., the Company’s newly-expanded global structure also paves a potential path towards additional capital markets initiatives, including in Europe and the Middle East.