Immotion Group PLC (LON:IMMO) shares jumped on Friday as the out of home virtual reality firm announced it has won a US$500,000 contract that will see it make three exclusive immersive experiences for Dutch entertainment group, iP2Entertainment.
Not only does Immotion make VR ‘pods’ that you see in arcades and shopping centres, but it also makes the games and experiences that go with them.
Work on the three experiences is expected to be completed by November. They will then be available for iP2Entertainment centres' visitors towards the end of the year and into 2020.
As part of the deal, Immotion will be able to use the content in some of its own VR arcades.
Chance to showcase skillset
“iP2Entertainment are well recognised as being one of the leading players in the 'out of home' immersive entertainment space,” said chief executive Martin Higginson.
“Having the opportunity to work with them in the creation of some cutting-edge VR experiences will not only deliver valuable revenue for the studio but also help us further develop and showcase our skill set in this exciting market, whilst providing access to some exciting new content.”
iP2 founder, Roger Houben, added: “Immotion is recognised as one of the best in the world in the creation of top-quality immersive media content productions. We look very much forward to working with them on this prestigious project. Hopefully the start of a long and mutually beneficial relationship.”
In afternoon trading, Immotion shares were up 10% at 7.10p.
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