Infinite Reality will acquire agentic AI firm Touchcast for $500M

Infinite Reality — a fast-moving company focused on AI, immersive technology and digital media — has agreed to acquire agentic AI firm Touchcast for $500 million in cash and stock. Infinite Reality has entered into a definitive agreement to acquire Touchcast in a deal that comes just a few weeks after Infinite Reality acquired Napster for $207 million. And Infinite Reality said the transaction agreement values the company at $15.5 billion. Boca Raton, Florida-based Infinite Reality has been on an acquisition binge to assemble what used to be popularly known as the metaverse, a term coined by sci-fi author Neal Stephenson decades ago in his novel Snow Crash. But after Meta entered this market, a lot of people became skeptical and metaverse is kind of a dirty word. Using the phrase immersive technology instead, Infinite Reality has been acquiring companies to build the metaverse. Amish Shah, Infinite Reality’s chief business officer, acknowledged in an interview with GamesBeat that th ... Read full article.