Infinite Reality, a maker of immersive virtual experiences, bought Ethereal Engine for $75 million in a share swap.
Los Angeles-based Ethereal Engine is a creator of end-to-end frameworks for web-first, social immersive experiences. It sounds like a metaverse company, but Norwalk, Connecticut-based Infinite Reality isn’t using that word.
The share-for-share acquisition values Infinite Reality at $2.5 billion and Ethereal Engine at $75 million.
The transaction establishes a multi-billion-dollar valuation benchmark for Infinite Reality following the December 2023 partnership and equity swap with Greenidge Generation Holdings. That means that the market values the company at $2.5 billion.
Founded in 2020 by industry veterans Liam Broza, Kyle Baran, Gheric Speiginer, Josh Field, David Gordon and Griffin Rowell, Ethereal Engine is a 3D web engine with an open core. It’s a new type of rival to proprietary game engines capable ...
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