Transaction Highlights:
- Provides
Fantasy 360 with leading software and distribution capabilities that the Company expects will accelerate growth in the fast growing$148 Billion VR/AR market - Synthesis VR is the only platform that supports Free Roam, Room-Scale, and Android- based tetherless Virtual Reality entertainment, a Gold Standard for VR arcade operators
- Synthesis VR provides over 325 Games and other experiences available through its extensive content catalogue
- Synthesis VR supports almost 300 entertainment center clients with locations across
North America ,Europe ,India ,South East Asia andLatin America - Synthesis VR development partners include: KAT VR, bHaptics, ImSim, Codemasters, Survios, nDreams, Secret Location,
Schell Games , Resolution Games, Wanadev, Never Bored and SUPERHOT among others - Synthesis VR has seen over 17,000,000+ minutes played in 2021 across the network, an 81% increase over 2020 despite market headwinds from the global pandemic
- Synthesis VR software platform manages all guest bookings, payment processing, game licensing which supports multiple billing options such as pay per minute, monthly and a combination of both, self-serve in headset game launcher, membership & player tracking, leaderboards, that include email offers directly targeted to the client and many more client friendly offerings.
- Synthesis VR brings an experienced management team led by CEO A Shabeer Sinnalebbe and CTO
Kamen Petrov
VR and augmented reality (“AR”) is rapidly transforming every aspect of people’s lives and businesses including paradigm shifts in entertainment, retail, manufacturing, healthcare, training and education industries. In a recent report titled “Seeing is believing” published by PwC, it was predicted that the VR/AR industry would grow from
“We are pleased to have executed on our acquisition strategy and believe Synthesis VR will prove to be a market leader with its sophisticated technology engine, as already evidenced by its impressive user growth and engagement in 2021,” said
A Shabeer Sinnalebbe, CEO of Synthesis VR states, “We at Synthesis VR are very excited to be joining the
Terms of the Acquisition
Pursuant to the terms of the SPA, the Company will, subject to the satisfaction of certain closing conditions, acquire 100% of the equity interests of Synthesis VR for aggregate upfront consideration of
The team behind
On behalf of the Board of Directors
https://www.immersivetech.co/
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Contact -
Email: investors@immersivetech.co
Telephone: +1-604-283-3029
CAUTIONARY DISCLAIMERS
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in
ABOUT
ABOUT SYNTHESIS VR
The Synthesis VR journey began in 2015 as a pursuit to create the perfect Location-Based Virtual Reality (“LBVR”) experience for operators and consumers. The team was hard at work prototyping a flexible software solution capable of serving the LBVR segment in many different ways. Soon their efforts grew into establishing one of the very first VR arcades in the world (VR TERRITORY), based in
From those modest beginnings, Synthesis VR has made a profound impact on VR and has grown into a global company with offices located in
Synthesis VR is on an exciting journey to provide the next generation of premium Free-Roam, e-Sport, and Racing content. Our efforts are accompanied by extensive work done in the field of Room Scale experiences and the standalone Head-Mounted Display (HMD) platforms. We are focused and highly motivated to unleash the LBVR potential and to create additional value on a global scale for the Virtual Reality location-based business segment. For more information about Synthesis VR, please Visit: https://www.synthesisvr.com/
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information in this news release includes, without limitation, statements regarding the future plans and objectives of the Company, the acquisition of Synthesis VR and its business, execution of business strategy, future performance and future growth, business prospects, synergies and opportunities of
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made, including, but not limited to, the Company being able to complete the Transaction as presently expected, the Company being able to capitalize on the services and business of Synthesis VR, the ability of Synthesis VR to maintain its business as presently contemplated, the ability of Synthesis to continue to retain service providers and customers, the ability of Synthesis to provide services in accordance with applicable laws and regulations, the business and future business of Synthesis and synergies with the Company’s operations, and such other assumptions presented in the Company’s disclosure record. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and
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