Proactive Investors - Run By Investors For Investors

Immotion bounces as it inks deal for free-roaming VR content with MGM-backed studio

The exclusive deal with VR studio Survios will allow Immotion to install the studio's upcoming shooter game, Raw Data, into its VR Arena
Raw Data
Raw Data is an interactive sci-fi-themed first-person shooter game

Immotion Group PLC (LON:IMMO) shares bounced higher on Friday after it signed a three-year deal with Survios, a virtual reality (VR) studio backed by media firm MGM, for content to install in its new VR Arena.

The immersive VR group said Survios would install its experience, known as Raw Data, into Immotion’s VR Arena, a four-person free-roaming enclosure that allows users to participate in games together.

READ: Immotion buoyant as it inks agreement to install VR pods at Santa Barbara Zoo

Raw Data is an interactive sci-fi-themed first-person shooter game and is the first consumer VR game to reach US$1mln in monthly sales. The exclusive deal with Immotion will see the game offered as a multi-player VR arena version for the first time in the ‘out of home’ VR market.

The company will also be able to sell or partner with clients globally, excluding Asia, for the rollout of Survios experiences on its VR Arena platform.

Raw Data is scheduled to be launched in partnership with several leisure operators in July.

Martin Higginson, Immotion’s chief executive, said the exclusive deal for Raw Data was “a major coup” for the company and would underpin is position as a global leader in the 'out of home' VR market.

He added that the company would continue to focus on growing its partnership model with high footfall ‘edutainment’ and leisure partners.

In early trading the shares were 3.8% higher at 11p.

--Adds share price--

View full IMMO profile View Profile

Immotion Group Timeline

Related Articles

Restaurant diners
July 04 2019
The company's website and phone app aims to help restaurants fill spare capacity by offering discounts potential diners during quieter periods
Video conference call
June 14 2019
The company’s core software-as-a-service product aims to make audio conferencing simpler, and more productive
Australian dollars
February 04 2019
The recruitment, building and training services provider is working to a target to triple its business operations.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use