NBST - Infinite Reality the Global Leader in Immersive Experiences Acquires Spatial Web Pioneer Ethereal Engine | Benzinga
Virtual Experiences Leader Acquires Ethereal Engine in Share-For-Share Transaction Valuing Infinite Reality at $2.5 Billion and Ethereal Engine at $75 million
Entire Ethereal Engine Team, Including Top Executives and Innovators, Has Joined Infinite Reality
LOS ANGELES, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Infinite Reality ("iR"), a leading global provider of cutting-edge virtual, AI-powered immersive experiences, and Ethereal Engine ("Ethereal"), a creator of end-to-end frameworks for web-first, social immersive experiences, announced today that the companies have completed a share-for-share acquisition valuing Infinite Reality at $2.5 billion and Ethereal Engine at $75 million.
This latest transaction provides yet another multi-billion-dollar valuation benchmark for Infinite Reality following the December 2023 partnership and equity swap with Greenidge Generation Holdings (NASDAQ:GREE) and the proposed December 2022 go-public deal with Newbury Street Acquisition Corporation (NASDAQ:NBST).
Founded in 2020 by industry veterans Liam Broza, Kyle Baran, Gheric Speiginer, Josh Field, David Gordon and Griffin Rowell, Ethereal Engine is the most advanced 3D web engine with an open core, making it a new type of competitor to proprietary game engines capable of personal world-building, allowing users to "build experiences once and run them everywhere." Ethereal has optimized its designing services for unparalleled, device-agnostic, immersive and enterprise-scale commercial experiences through a web browser rather than a downloaded client.
Built on popular Javascript structures, Ethereal uses end-to-end frameworks for the ...