Infinite Reality, a leader in spatial computing and AI, has announced its acquisition of Touchcast in a $500 million cash and stock deal. This marks the company’s biggest purchase to date.

The deal continues Infinite Reality’s rapid expansion through strategic acquisitions. Over the past year, the company has added multiple businesses to its portfolio, including a $207 million deal in March for music platform Napster. Infinite Reality aims to evolve Napster into a more interactive, social music experience.

Last year, Infinite Reality also acquired Landvault, a company that builds immersive digital environments for brands, in a $450 million all-stock deal.

With the addition of Touchcast, Infinite Reality is betting big on Mentorverse—Touchcast’s AI-powered platform that creates virtual mentors capable of lifelike video conversations. The company sees strong potential for this technology to enhance its broader vision for immersive, interactive experiences.

Infinite Reality’s value has grown significantly alongside its deal-making strategy. Since July, its valuation has jumped from $5.1 billion to $15.5 billion.

Originally founded in Norwalk, Connecticut, Infinite Reality is now headquartered in South Florida. The company has also been successful in raising capital, securing $3 billion in January from a private investor. Unlike many tech firms, Infinite Reality often partners with individual investors and family offices instead of relying solely on traditional venture capital. Still, it raised $300 million last year from firms including Lerer Hippeau and Lux Capital.

With Touchcast now part of its portfolio, Infinite Reality continues to shape the future of AI and spatial computing through bold investments and an aggressive growth strategy.