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The acquisition is part of Infinite Reality’s plans to improve market expansion and position the company as a world leader in immersive technology.
Connecticut-headquartered Infinite Reality yesterday (9 July) announced the acquisition of Sure Valley Ventures (SVV) portfolio company Landvault, at a cost of $450m.
London-based Landvault was founded by CEO Sam Huber and offers a range of AI-powered tools that enable clients such as RedBull, Heineken and Mastercard to enter the metaverse and build, publish and monetise immersive experiences.
Previously, Landvault was known as Admix until it rebranded following a merger in 2022 and first received investment from SVV in a $2.1m seed round in 2018. Infinite Reality provides tools and services to develop immersive technologies, and is aiming to leverage Landvault’s significant presence in the Middle East and Europe to grow its market and position the company as a global leader in immersive tech.
Infinite Reality also announced a $350m equity investment by a “private multi-family office” that will be “deployed immediately”.
Huber will take on the role of global president of enterprise and CEO for the MENA (Middle East and North Africa) region for Infinite Reality, and as the company furthers the go-public strategy in the US, it hopes the expansion will pave a path towards a potential dual listing that will include an IPO (initial public offering) on the Abu Dhabi exchange.
Going forward, the two companies’ teams will be integrated and Landvault will operate as the Middle Eastern arm of Infinite Reality, growing investment, expanding their footprint, and supporting ongoing projects and client relations.
The managing partner of SVV, Barry Downes, welcomed the partnership with Huber, whom he stated he has had the privilege to work with since SVV initially invested in Landvault in 2018.
“Landvault is a great example of the type of disruptive technology businesses we partner with at SVV, helping them to grow and scale globally through our platform model,” added Downes. “We wish the team every success in their next chapter with Infinite Reality.”
Late last year SVV expanded further, establishing a new office in Co Cork, Ireland, with start-up ecosystem veteran DC Cahalane at the helm as a venture partner.
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