ENGAGE Enterprise Customer Updates

RNS Number : 7936A
VR Education Holdings PLC
04 June 2021
 

4 June 2021

 

VR Education Holdings PLC

("VRE" or the "Group")

 

ENGAGE Enterprise Customer Updates

 

VR Education Holdings plc (AIM: VRE; Euronext Growth: 6VR), a virtual reality ('VR') technology company, is pleased to announce that its virtual communications software platform, ENGAGE, continues to attract new enterprise customers, and to increase the average annual contract value per client:

 

· Facebook, an ENGAGE client since August 2020, has renewed its enterprise account and doubled the number of user licenses

 

· One of the world's leading consumer goods companies (in the world Top 100 companies by revenue) has become an ENGAGE client

 

· A major US multinational (with a market cap of more than US$100 billion) has also agreed a contract to use ENGAGE's Virtual Office solution

 

Other enterprise and institutional customers who have signed up to the platform since the start of 2021 include Abbott Laboratories, KPMG, MongoDB and the US State Department as announced on 7 April 2021.  These customers are using the platform for various purposes, including business collaboration, training and events.

 

David Whelan, CEO, VRE, said:   "ENGAGE continues to add blue-chip enterprise clients to the platform. We are building long-term partnerships with our customers as we invest in ENGAGE to meet the changing communication needs of leading international organisations. This investment is being rewarded with new customers and by existing clients renewing their accounts while increasing their user numbers.

 

"As we announced earlier this month, our strategic partner HTC is shortly to commence selling its ENGAGE product, VIVE Sessions, in China. VIVE Sessions will be part of a software bundle with HTC's new headset, the VIVE Focus 3, and with new HP ProBook laptops being sold in the region. Our growing customer base, and increasing distribution footprint, means we are confident that 2021 will be another transformative year for ENGAGE."

 

F or further information, please contact:

 

VR Education Holdings plc

David Whelan, CEO

Séamus Larrissey, CFO

Sandra Whelan, COO

 

Tel: +353 87 665 6708

contact@vreducationholdings.com

Cairn Financial Advisers LLP  (Nominated Adviser)

James Caithie / Liam Murray / Ludovico Lazzaretti

 

Tel: +44 (0) 20 7213 0880

Shard Capital Partners LLP  (Joint Broker)

Damon Heath / Erik Woolgar

 

Tel: +44 (0) 20 7186 9952

Davy  (Joint Broker & Euronext Growth Advisor)

Fergal Meegan / Barry Murphy

 

Tel: +353 1 679 6363

SEC Newgate  (Financial PR)

Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Tel: +44 (0)7540 106 366

VReducation@secnewgate.co.uk

 

Notes to Editors:

VR Education (AIM: VRE; Euronext Growth: 6VR) is a virtual reality ('VR') technology company focused on becoming a leading global provider of virtual communications solutions through its proprietary software platform, ENGAGE, ENGAGE provides users with a platform for creating, sharing, and delivering VR content for education, training, and online events through its three solutions: Virtual Campus, Virtual Office, and Virtual Events.  

VRE is listed on AIM in London and on the Enterprise Securities Market, a market regulated by Euronext Dublin.  For further information, please visit:  www.vreducationholdings.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCDKNBNABKDKAK
UK 100

Latest directors dealings