20th Nov 2019 11:50
(Alliance News) - Mercia Asset Management PLC said Wednesday its investee nDreams Ltd is continuing to make "significant" commercial progress.
Mercia holds a 44% stake in nDreams, which develops and publishes virtual reality video games.
Mercia said nDreams has recently signed a new contract to create VR content for an unnamed "leading global company".
"The new contract is for the VR at home market and follows the announcement of nDreams' latest title, Phantom: Covert Ops, which the company is developing in partnership with Oculus Studios," Mercia added.
Mercia Chief Investment Officer Julian Viggars said: "Run by an industry leading management team that has worked for many of the biggest gaming companies in the world, nDreams is on an exciting growth trajectory. With new hardware releases, such as the Oculus Quest headset and Valve Index, and the ever-increasing quality of content, interest in the VR market continues to gather momentum.
"nDreams' focus on building high-quality content alongside technical innovation is increasingly being recognised by the gaming industry and its accelerating commercial progress is thoroughly well deserved."
Shares in Mercia Asset Management were 6.5% higher in London on Wednesday at 31.42 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Mercia Asset