Nextech AR Solutions Corp (CSE:NTAR) (OTCQB:NEXCF) (NEO:NTAR) (FRA:N29) said its subsidiary Map Dynamics, a hybrid event and trade show mapping software platform has been recognized as the “Supporting Associate Organization of the Year” by the Florida Society of Association Executives (FSAE).
Previous winners of the award include: Hilton Worldwide, Marriott International, and MemberClicks.
Augmented reality (AR) developer and operator Nextech AR Solutions acquired Map Dynamics in November 2020 for a total purchase price of $780,000 in cash upfront with a 12-month potential earn-out of another $525,000.
READ: Nextech lands multi-year contract with one of Fortune’s 2021 World's Most Admired Companies
Since the purchase, Map Dynamics has generated approximately $500,000 in revenue.
“With the Map Dynamics acquisition we not only ended up with a great platform that has serviced 4.5 million visitors, but also almost 700 association customers that are connected to thousands of businesses or members. We are now starting to work with the associations to educate them about our Augmented Reality solutions that would benefit their members,” Evan Gappelberg, founder and CEO of Nextech said in a statement.
The AR company has been busy in the last several months expanding its portfolio of subsidiaries and partners.
Gappelberg added: “About a third of all Americans are connected to an industry association or non-profit by way of professional or trade organization, education, community service or general forum and the work we do benefits members of these important organizations.
"We are excited to expand the range of offerings now available to all members across the association value chain including, Architects, the Building Industry, the Association of American Physicians and Surgeons and many others to fully leverage our full suite of AR, and hybrid event solutions. With close to 100,000 industry associations in North America – we anticipate significant growth opportunities ahead with our innovative AR solutions.”
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