AI technology firm Infinite Reality has signed a definitive agreement to acquire the Drone Racing League for $250M. The acquisition bolsters Infinite Reality's capabilities and IP, and boosts its valuation to $3.5B. The DRL deal marks Infinite Reality's latest acquisition to a portfolio that includes spatial web design firm Ethereal Engine; fully integrated entertainment production company iR Studios; esports franchises Team Rogue (League of Legends) and London Royal Ravens (Call of Duty); as well as digital media, content and creator services. DRL has previously received investments from sports, media and technology entities including RSE Ventures, Liberty Media, Exor, ISOS Capital, WWE, T-Mobile Ventures, CAA Ventures, Lux Capital, Lerer Hippeau, Courtside Ventures, Sky and Hearst Ventures (Infinite Reality).
As part of the acquisition, Infinite Reality will take on DRL’s staff, while DRL founder & CEO Nicholas Horbaczewski will become Infinite Reality’s Global President. DRL President Rachel Jacobson, who previously worked at the NBA as SVP/Business Development, will become Infinite Reality’s President of Global Business, Ventures & Partnerships (BLOOMBERG NEWS, 4/23).
