Esports and metaverse company Infinite Reality, the owners of esports organisation Rogue, has announced the acquisition of the Drone Racing League for $250m (~£201.2m).
The acquisition will see the Drone Racing League enter Infinite Reality’s portfolio which includes esports company ReKT Global, talent management firm TalentX Entertainment and broadcasting company iR Studios (formerly Thunder Studios). The transaction is expected to close in the second quarter of 2024.
The Drone Racing League (DRL), as the name suggests, is a sports league for drone racing. The league, established in 2015, has popularised the sport of drone racing, with DRL also creating a PC and console game called DRL SIM and mobile game Drone Racing Arcade.
Infinite Reality made waves in the esports community by acquiring ReKTGlobal in 2022 for around $470m (~£360m). The acquisition made Infinite Reality the owners of esports organisation Rogue and Call of Duty League franchise London Royal Ravens (now the Carolina Royal Ravens). Infinite Reality also entered a large partnership with KOI, which ended in late 2023.
The acquisition will allow Infinite Reality access to an array of technologies the DRL uses regularly to create high-tech broadcasts for its races. According to a release, the deal takes Infinite Reality’s valuation to $3.5bn (~£2.82bn).
The companies noted that DRL CEO and Founder Nicholas Horbaczewski will be promoted to Infinite Reality’s Global President, with DRL President Rachel Jacobson appointed President of Global Business Ventures and Partnerships.
Nicholas Horbaczewski, CEO and Founder of the Drone Racing League, commented: “The DRL team advanced the technology, media capture and race competition to deliver a sport of constant innovation, cultural relevance and thrilling action. Today, we are incredibly excited to join Infinite Reality, a company that has the vision and resources to take drone racing and our core technology to infinite heights.”
The companies mention any future plans due to the fact that the merger is still pending.
