Fresh Off Napster Buy, Infinite Reality to Acquire AI Startup for $500 Million

Infinite Reality, a tech company working on digital experiences and extended reality, has agreed to acquire AI firm Touchcast Inc. for $500 million in cash and stock, in a deal that values Infinite Reality at $15.5 billion.

The acquisition comes just weeks after the company said it would buy iconic 2000s music brand Napster. With the $207 million Napster deal, Infinite Reality said it aimed to create a new kind of music platform, and give people more ways to interact with artists online. The acquisition is one of several by Infinite Reality as it aims to become a major player in AI and ecommerce.