Update on HTC Partnership

RNS Number : 2895Y

VR Education Holdings PLC

12 May 2021

 

12 May 2021

VR Education Holdings PLC

("VRE" or the "Group")

Update on HTC Partnership

VR Education Holdings PLC (AIM: VRE; Euronext Growth: 6VR), a virtual reality ('VR') technology company, is pleased to provide an update on the Group's partnership with HTC Corporation ('HTC'). HTC is a global leader in VR technology and equipment and a strategic partner of the Group in which HTC holds a c.20% stake.

Earlier today, HTC made two announcements which are expected to increase the rollout of the Group's proprietary software platform, ENGAGE, which is sold as VIVE Sessions in China. HTC has announced VIVE Sessions will be included in the software bundle of the HTC's new headset, the VIVE Focus 3 XR. HTC also announced a partnership with HP to roll out "VIVE Sessions" on new HP ProBook laptops sold inside China. 

The announcements from HTC were made inside two live virtual events held on the ENGAGE platform, as part of VIVECON and V2EC conferences, and broadcast to a global audience through social media.  The VIVE Focus 3 XR is designed for education and enterprise use and HTC expects that it will be one of the most advanced mobile XR device on the market, providing superior display resolution and processing power, compared to the current other most popular devices.

Earlier this month, the Group announced that ENGAGE had reached the milestone of 100 commercial customers following its launch in May 2019.

VRE is focused on becoming a leading global provider of virtual communications solutions through ENGAGE and its three solutions: Virtual Campus, Virtual Office, and Virtual Events.  In October 2020, the Group announced the launch of ENGAGE in China, with HTC reselling the platform as VIVE Sessions with a focus on large-scale conferences, exhibitions, and educational events in China. 

Alvin Wang Graylin, China President, HTC, said: "HTC believes strongly in the potential of virtual events platforms to transform business, learning and entertainment. We have held both our major events this week, VIVECON and V2EC, in the ENGAGE/VIVE Sessions platform, enabling tens of thousands of people to have an interactive spatial experience without leaving their homes or getting on a plane. We are excited to be bundling a three-month free license of the VIVE Sessions product as part of the VIVE XR Suite with every new VIVE Pro 2 and VIVE Focus 3 device that has just launched."

David Whelan, CEO, VRE, said: "The inclusion of ENGAGE, under the VIVE Sessions branding, as part of the new VIVE Focus 3, as well as HTC's partnership with HP, is fantastic news. The launch of VIVE Focus 3 is the trigger for increased marketing and business development from HTC as part of our partnership, and we expect the take-up of VIVE Sessions to increase. We believe these announcements represent a major step in our China rollout.  China is the fastest-growing immersive market in the world. We look forward to the many exciting opportunities on the horizon."

F or further information, please contact:

VR Education Holdings plc David Whelan, CEO Séamus Larrissey, CFO Sandra Whelan, COO	Tel: [phone] [e-mail]
Cairn Financial Advisers LLP  (Nominated Adviser) James Caithie / Liam Murray / Ludovico Lazzaretti	Tel: [phone]
Shard Capital Partners LLP  (Joint Broker) Damon Heath / Erik Woolgar	Tel: [phone]
Davy  (Joint Broker & Euronext Growth Advisor) Fergal Meegan / Barry Murphy	Tel: [phone]
SEC Newgate  (Financial PR) Elisabeth Cowell / Robin Tozer / Isabelle Smurfit	Tel: [phone] [e-mail]

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

 

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