The metaverse-focused company Infinite Reality announced the acquisition of Landvault. This studio creates virtual spaces and games in Decentraland, Sandbox, and Roblox to promote various brands.
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The deal is valued at $450 million. After the acquisition is completed, Landvault's employees will join the Infinite Reality team, and its head, Sam Huber, will become President of Business Operations and CEO for the MENA region (Middle East and North Africa).
Landvault was founded in 2017. It has collaborated with companies such as Mastercard, Heineken, L’Oreal, and Hershey’s.
Additionally, Infinite Reality announced that it raised $350 million, bringing its market valuation to $5.1 billion.