VR Education Holdings PLC Strategic Partnership with HTC Corporation (7040G)
19 Marzo 2020 - 8:00AM
UK Regulatory
TIDMVRE
RNS Number : 7040G
VR Education Holdings PLC
19 March 2020
For immediate release 19 March 2020
VR Education Holdings plc
('VR Education' or the 'Group')
Strategic partnership with HTC Corporation
Further to the announcement issued on 9 March 2020, VR Education
(AIM: VRE; Euronext Growth: 6VR), a leading virtual reality ('VR')
technology company focused on the education and enterprise training
space, is pleased to announce that following on from successfully
hosting the 2020 HTC Vive Ecosystem Conference ('HTC 2020 VEC') via
its ENGAGE platform, HTC Corporation ('HTC') has indicated to the
Group that they want to enter into a strategic partnership.
The basis of this strategic partnership would be for the
distribution of the Group's ENGAGE platform globally through all
HTC enterprise sales channels. At this early stage, there can be no
certainty that a strategic partnership will be concluded and a
further announcement, as appropriate, will be made in due
course.
Listed on the TWSE, HTC is a world leader in VR and mobile
computing with extensive business reach in the greater Chinese
market. With the global spread of COVID-19 HTC and VRE are working
closely together to help alleviate current commercial and education
issues created by widespread self-isolation enforced by governments
worldwide. HTC as a technology and business development partner are
well placed to provide immersive technologies to their current
customer base and provide after sales support and ongoing customer
support.
VRE via its ENGAGE platform has a solution to ensure remote
workers feel more connected and that large events can still be held
remotely and more immersive then current video-based platforms.
VRE's world leading software team working closely with HTC's
hardware, software and sales teams are focused on bringing
Immersive AR and VR technologies to enterprise customers and
educational institutes on a global scale with specific focus given
to the Greater China region.
Speaking earlier today at 2020 HTC Vive Ecosystem Conference,
Alvin Graylin, HTC China President, said: " As the world adjusts
its mindset and the way we work and live, the need for technology
platforms to fill the gap of distanced that's created between us
increases. Having worked closely with VRE using the ENGAGE platform
for delivering our yearly conference, we've been impressed in the
way it's able to fill all the real-world needs for a professional
industry event. We look forward to working with VRE to share this
platform with the world and overcome the looming changes of doing
business in a post-COVID-19 world. "
David Whelan, CEO of VR Education, said: "This strategic
partnership with HTC is expected to be a significant commercial
opportunity for VRE but would also present us with an opportunity
to make a real difference in people's lives. Our ENGAGE platform
can connect all those in isolation with more intimate interactions
via immersive technologies and assist those businesses heavily
effected by travel bans.
At the HTC Vive Ecosystem Conference, held earlier today, we had
800 business leaders join us inside the ENGAGE platform due to the
physical conference being cancelled due to the COVID-19 outbreak in
China. Many industries are now focused on how they will continue to
work remotely due to health concerns and reduced travel due to
climate change concerns. VRE in combination with HTC can now offer
a complete end to end service to alleviate these challenges."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
- Ends -
For further information, please contact:
VR Education Holdings plc Tel: +353 87 665 6708
David Whelan, CEO contact@vreducationholdings.com
Sandra Whelan, COO
Cairn Financial Advisers LLP (Nominated Tel: +44 (0) 20 7213
Adviser) 0880
James Caithie / Liam Murray / Ludovico
Lazzaretti
Shore Capital (Joint Broker) Tel: +44 (0) 20 7408
Toby Gibbs / Anita Ghanekar 4090
Fiona Conroy
Davy (Joint Broker & Euronext Growth Tel: +353 1 679 6363
Advisor)
Fergal Meegan / Ronan Veale / Barry
Murphy
Buchanan (Financial PR) Tel: +44 (0)20 7466 5000
Henry Harrison-Topham / Chris Lane VRE@buchanan.uk.com
/ Tilly Abraham
Notes to Editors
VR Education, together with its wholly owned subsidiary, is an
early stage VR software and technology group based in Waterford,
Ireland, dedicated to transforming the delivery methods of
education and corporate training by utilising VR technologies to
deliver fully immersive virtual learning experiences. The Group's
core focus is the development and commercialisation of its online
virtual social learning and presentation platform called ENGAGE,
which provides a platform for creating, sharing and delivering
proprietary and third-party VR content for educational and
corporate training purposes.
In addition to the ongoing development of the ENGAGE platform,
the Group has also built two downloadable showcase VR experiences,
being the award-winning Apollo 11 VR experience and the Titanic VR
experience.
On 12 March 2018, VR Education listed on the AIM market of the
London Stock Exchange and on the Enterprise Securities Market, a
market regulated by Euronext Dublin. For further information,
please visit www.vreducationholdings.com .
About HTC VIVE
HTC VIVE is the premier virtual reality (VR) platform and
ecosystem that creates true-to-life VR experiences for businesses
and consumers. The VIVE ecosystem is built around premium VR
hardware, software, and content. The VIVE business encompasses
best-in-class XR hardware; VIVEPORT platform and app store; VIVE
Enterprise Solutions for business customers; VIVE X, a $100M VR
business accelerator; VIVE STUDIOS, an entertainment, gaming, and
enterprise content studio; and VIVE ARTS for cultural initiatives.
For more information on VIVE, please visit www.vive.com .
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contact rns@lseg.com or visit www.rns.com.
END
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