Partnership agreement with VictoryXR
14 April 2020
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 it has signed a partnership agreement with US-based VictoryXR, a world leader in VR and augmented reality (‘AR’) content creation for schools and education, for the use of the Group’s ENGAGE platform.
VictoryXR specialises in US-based science curriculum content and virtual animal dissections, both in the VR and AR space. To date VictoryXR has created more than 240 unique VR and AR learning experiences spanning more than 50 different learning units.
VR Education’s ENGAGE platform is a world leading education, training and communications tool used by educators and enterprise clients to provide remote training, distance learning and, most recently, as a platform to provide global virtual events.
VR Education and VictoryXR have agreed terms of a revenue share agreement, in which VictoryXR will import its extensive content library onto the ENGAGE platform and provide its services remotely to school children across the US. Students using the platform will be both in physical schools and home schooled children, including those whose access to traditional learning methods have been impacted by COVID-19. Qualified educators will run live virtual classes via ENGAGE and additional educational content produced by VictoryXR will be available for replay via the platform.
Commenting on the partnership agreement, Steve Grubbs, CEO of VictoryXR, said: “VictoryXR is taking school inside virtual reality with ENGAGE. Students will learn with the best teachers and have the best learning labs, all in an interactive virtual world.
“We view ENGAGE as the platform, much like the iPhone is the platform for world of apps. VictoryXR will build a VR school curriculum app on top of this platform which gives every school and every student access to the best equipment, the best teachers and the most effective learning.”
David Whelan, CEO of VR Education, said: “We are delighted to be working with Steve and his team at VictoryXR. They have a wealth of experience and the content they have already produced is aligned with the US school curriculum built by world class qualified educators. Having a platform like ENGAGE to deliver this content and provide easy-to-use content tools allows VictoryXR to develop and deploy similar high quality content quickly and easily at a much lower development cost.
“Even before the impact of COVID-19, the US home school market was quite significant with over 2.5 million home school students1. As a result of this world changing event, we believe that this number is likely to accelerate quickly as students and parents become familiar with working online at home. At a difficult time for education across the globe, ENGAGE provides a fantastic solution for distance learning and through this partnership with VictoryXR we are now able to provide services and content that go beyond anything previously offered within traditional educational programmes, not only in the US but globally.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
|VR Education Holdings plc
David Whelan, CEO
Sandra Whelan, COO
|Tel: +353 87 665 6708
| 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 / Ronan Veale / Barry Murphy
|Tel: +353 1 679 6363|
| Buchanan (Financial PR)
Henry Harrison-Topham / Chris Lane / Tilly Abraham
|Tel: +44 (0)20 7466 5000
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.
VictoryXR is a world leader creating content for schools and education in augmented and virtual reality. Victory XR won the prestigious Viveport Award recognising its product as the best education VR experience in the world for 2018. More information can be found at www.victoryxr.com