20th Feb 2020 15:18
(Alliance News) - Immersive virtual reality company Immotion Group PLC said on Thursday it has signed new contracts to install 68 virtual reality headsets at 11 sites across the UK, US and Germany.
The 68 new headsets once installed, will take the total number of headsets in operation to 432, the company noted, adding that most of the new installations are expected to occur in the first quarter of 2020.
Amongst the new locations within which the new headsets will be installed are Sea Life Timmendorfer Strand in Germany, Legoland Discovery Center San Antonio in the US state of Texas, and Sea Life Great Yarmouth in the UK. Eight headsets will also be installed at Immotion's first outdoor enclosure at Roger Williams Zoo in the US state of Rhode Island.
"We are pleased to have signed a further nine partnership agreements, and for two existing partners to be taking more headsets. We remain confident that we will achieve our break-even target around the end of the first quarter of 2020, said Immotion Chief Executive Martin Higginson.
"Partner demand continues, and with a combination of new experiences, outdoor enclosures, and larger theatre solutions now available, we are well-positioned for growth," he added.
The stock was trading 9.0% higher at 7.30 pence each on Thursday afternoon in London.
By Ife Taiwo; [email protected]
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