Infinite Reality (“iR”), a leading provider of virtual and AI-powered immersive experiences, has announced its acquisition of the Drone Racing League (“DRL”) for $250 million.
This strategic purchase enhances iR’s technological capabilities and intellectual property, increasing its valuation to $3.5 billion. DRL, known for bringing professional drone racing into the mainstream with advanced robotics and AI, will significantly expand iR’s diverse portfolio, which already includes Ethereal Engine, iR Studios, and eSports franchises such as Team Rogue and London Royal Ravens.
This acquisition will enrich iR’s consumer engagement strategies, allowing for more immersive brand interactions and elevating the excitement of sports and entertainment experiences to the level of live events. John Acunto, CEO of iR, highlighted the synergy between iR and DRL, emphasizing their commitment to revolutionizing fan engagement across various platforms.
Nicholas Horbaczewski, CEO & Founder of DRL, expressed enthusiasm about joining forces with iR, recognizing the opportunity to elevate drone racing and related technologies to new heights. DRL has already captivated nearly 100 million young fans globally with its high-tech races and interactive content.
DRL’s influence extends beyond sports, having secured investments from major players like Liberty Media and Exor, and forming partnerships with entities including the U.S. Air Force and WarnerMedia. With this acquisition, iR plans to further innovate in the realms of AI-driven sports and entertainment, aiming to blur the lines between digital and real-world experiences.
The transaction, which includes the promotion of DRL’s Nicholas Horbaczewski to iR Global President and Rachel Jacobson to iR President of Global Business Ventures and Partnerships, is expected to close in the second quarter of 2024, pending regulatory approvals.
