Rogue and London Royal Ravens parent company, RektGlobal sold for $470 million
The new combined entity will focus on growing in the metaverse.
RektGlobal, the parent company of Rogue and London Royal Ravens, has been acquire for $470 million.
The all-stock deal, based on an equity valuation of $2 billion will see Infinite Reality look to cement itself in the metaverse. Upon regulatory approval, Infinite Reality will acquire all of RektGlobal’s assets, stocks as well as brands. Infinite Realty will also acquire RektGlobal’s offices in New York, Los Angeles, Las Vegas, London, Berlin and more.
RektGlobal has made steady progress through the esports industry with two big esports teams, a talent management company, digital media agency and monetization company.
"We are extremely excited to announce this acquisition to all of our investors, employees, and clients, as well as all Rogue and Royal Raven fans around the world," said Amish Shah, ReKTGlobal Founder and Chairman. "Our journey does not end today. We are beginning the next chapter in our evolution into the Metaverse. The explosive combination of our shared collective assets together creates a dominant, unstoppable force in the marketplace."
The announcement emphasizes Infinite Reality’s focus of creating a company that will specialize in the metaverse.
RektGlobal had plans to go public but instead abandoned those plans to be a part of a bigger project. Infinity Retail was formed through the merger of Display Social and production company Thunder Studios and is valued at $2 billion, according to Bloomsberg.
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What does this mean for London Royal Ravens and Rogue?
While RektGlobal has many investments in esports, Rogue and London Royal Ravens are the most popular ones. London Royal Ravens is a franchise in the Call of Duty League while Rogue has teams in multiple titles. Rogue is a familiar name in esports with teams in League of Legends, Rocket League, Rainbow Six Siege, Ultra Liga and more. The esports team also employs several content creators including DrLupo, KatContii and KittyR6.
Players from the two teams will be able to access Thunder Studios, a 150,000 square foot production facility in California. The announcement highlights significant growth and scaling up as the highlights and it should only have a positive impact on London Royal Ravens and Rogue.
Infinity retail is further looking to raise another $150 million or more through a private investment that would value the combined entity at $2.5 billion
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Editor | Twitter @rohan_esports
Started esports with Dota, moved to CS, then OW, back to Dota 2, and now a bit of Valorant. I love city-building games, and have spent hours in Cities: Skylines only to have the traffic defeat me. Currently on a reading spree - the aim is to read 150 books in 2023. Can I do it? Would you?