Investment in nDreams

RNS Number : 5636C

Mercia Technologies PLC

20 January 2015

 

RNS REACH

20 January 2015

Mercia Technologies PLC

Investment in nDreams

 

Mercia Technologies PLC (AIM: MERC, "Mercia" or the "Group"), a Midlands based leader in the funding and commercialisation of technology businesses in the UK, is pleased to announce that it has made a £450,000 investment in nDreams Limited ("nDreams"). This is the second of an agreed three tranche investment of a total £1.75m. The final instalment is due for payment towards the end of Q1 2015. The Group has a 30% direct holding in nDreams.

nDreams is the fast-growing UK virtual reality ("VR") developer and publisher. Mercia first invested in nDreams in March 2014 through its third party funds managed by its wholly owned subsidiary, Mercia Fund Management ("MFM").

The additional funds will allow nDreams to expand faster, invest more in R&D and increase the number of VR projects that it has in development.

Mercia has identified growth potential within the software development area of VR, including gaming, gamification, serious games and experiences.

Mark Payton, Chief Executive of Mercia Technologies PLC, said:

"nDreams is an excellent example of the execution of our business model of supporting the emerging stars arising from our third party funds under management. Mercia's investment in nDreams is a clear demonstration of our strategy of providing capital, infrastructure and management support to accelerate the development of quality businesses.

"Mercia has been actively seeking software investment opportunities within certain areas of the VR market and nDreams, with its strong leadership and well-regarded development team, offers expertise in both gaming and experiences.

"VR is fast becoming established in the gaming sector, driving new video game experiences and gaming VR is set to become a significant entertainment category - as demonstrated by the recent launch of Samsung Gear VR, powered by Oculus.

"nDreams has been developing innovative software for these devices for over 12 months and is well positioned for growth as this category evolves."

Patrick O'Luanaigh, Chief Executive of nDreams Limited, said:

"We're delighted to be working with Mercia, who share our belief in and vision for VR and are helping us achieve our goals in this new and fast-growing area.

"With the help of these new funds, our aim is to continue to be at the forefront of development for this new medium and to create superior VR experiences."

Enquiries:

Mercia Technologies PLC (www.merciatechnologies.com)	[phone]
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial Officer
Cenkos Securities	[phone]
Ivonne Cantu / Michael Johnson
Instinctif Partners	[phone]
Adrian Duffield / Kay Larsen

Note to editors

Mercia Technologies PLC

Mercia creates, funds and develops technology businesses nationally with an emphasis in the Midlands and the North of the UK. It brings technology transfer, company formation, incubation, commercialisation and investment, to technology ventures.

Mercia has a well seeded portfolio and pipeline of investments. The Group has a direct investment in 11 operating companies and access to a portfolio of 38 businesses through its third party funds, managed by its wholly owned subsidiary Mercia Fund Management.

Mercia's shares started trading on AIM on 18 December 2014.

nDreams Limited

nDreams was formed in 2006 by former Eidos Creative Director, Patrick O'Luanaigh. nDreams is an innovative game developer and publisher specialising in virtual worlds and Virtual Reality ("VR").

nDreams has announced two launch titles for the Samsung Gear VR headset (Gunner and Perfect Beach) as well as The Assembly, a major VR adventure game for Project Morpheus on the PlayStation 4 and Oculus Rift. In addition, they have several other VR games and experiences in development.

nDreams also owns VRFocus, one of the leading global VR gaming websites, and recently announced a partnership with Bristol based Virtual View Productions to explore the crossover between VR films and VR video games.

 

END

 

 

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