VR Education Holdings PLC ENGAGE selected by Facebook (0894R)
25 October 2019 - 5:00PM
UK Regulatory
TIDMVRE
RNS Number : 0894R
VR Education Holdings PLC
25 October 2019
25 October 2019
VR Education Holdings plc
('VR Education' or the 'Group')
ENGAGE selected by Facebook to accelerate VR adoption
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 the Group's
ENGAGE platform has been selected by Facebook (NASDAQ:FB) for its
Oculus Independent Software Vendors ('ISV') programme. The Oculus
ISV programme works with enterprise developers and software
companies to engage with Oculus in order to accelerate customer
adoption of VR solutions built for Oculus enterprise products. As a
result, following the anticipated roll-out of Oculus for Business
in early 2020, VR Education's ENGAGE platform will, for the first
time, be available via a special portal for Oculus enterprise
clients to access and connect with. In addition, the Group will be
one of only a few select developers who will able to provide
services using Facebook equipment as well as receiving additional
support from them.
Facebook, which manufactures the Oculus Rift and Oculus Quest,
are currently the market leaders in standalone VR device sales with
the Oculus Quest on track to sell over one million units this year
following its release in late May 2019. Facebook's CEO, Mark
Zuckerberg, recently told shareholders at its Q2 2019 earnings
call: "This quarter, we shipped Oculus Quest, our first all-in-one
headset with no wires and full freedom of movement. It has gotten
great reviews and we're selling them as fast as we can make them.
More importantly, we've delivered an experience that people keep
using week after week, and buying more content."
The ENGAGE platform is an advanced virtual reality training and
education platform that makes it easy to collaborate on tasks
remotely, create new content and learn in VR. The ENGAGE team have
signed up various commercial deals in the US and Korea with
educational institutions and the Group is currently engaged in
negotiations with various large multinationals to provide
enterprise solutions to their workers and training
professionals.
David Whelan, CEO of VR Education, said: "It is fantastic to be
chosen by Facebook to help accelerate the wider adoption of VR
globally. Oculus has an amazing technology platform and ENGAGE is
leading the way when it comes to distance learning and remote team
collaboration. I see an extremely bright future for this technology
with the release of high-end mobile devices, such as the Oculus
Quest and the HTC Vive Focus, as well as the release of 5G high
speed mobile internet.
Business and enterprise will only adopt new technology when they
see compelling advantages to doing so and ENGAGE is being developed
to meet these business needs providing virtual meeting rooms and
training scenarios which save customers time and money. To date,
adoption of VR/AR has been steady, however with Facebook, HTC, O2,
Deutsche Telekom and many others all now working towards the growth
of 5G and AR/VR, we believe that will see an acceleration of
adoption over the next 18 to 24 months."
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 (UK 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.
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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