ENGAGE Enterprise Customer Updates

RNS Number : 7936A

VR Education Holdings PLC

04 June 2021

 

4 June 2021

VR Education Holdings PLC

("VRE" or the "Group")

ENGAGE Enterprise Customer Updates

VR Education Holdings plc (AIM: VRE; Euronext Growth: 6VR), a virtual reality ('VR') technology company, is pleased to announce that its virtual communications software platform, ENGAGE, continues to attract new enterprise customers, and to increase the average annual contract value per client:

· Facebook, an ENGAGE client since August 2020, has renewed its enterprise account and doubled the number of user licenses

· One of the world's leading consumer goods companies (in the world Top 100 companies by revenue) has become an ENGAGE client

· A major US multinational (with a market cap of more than US$100 billion) has also agreed a contract to use ENGAGE's Virtual Office solution

Other enterprise and institutional customers who have signed up to the platform since the start of 2021 include Abbott Laboratories, KPMG, MongoDB and the US State Department as announced on 7 April 2021.  These customers are using the platform for various purposes, including business collaboration, training and events.

David Whelan, CEO, VRE, said:   "ENGAGE continues to add blue-chip enterprise clients to the platform. We are building long-term partnerships with our customers as we invest in ENGAGE to meet the changing communication needs of leading international organisations. This investment is being rewarded with new customers and by existing clients renewing their accounts while increasing their user numbers.

"As we announced earlier this month, our strategic partner HTC is shortly to commence selling its ENGAGE product, VIVE Sessions, in China. VIVE Sessions will be part of a software bundle with HTC's new headset, the VIVE Focus 3, and with new HP ProBook laptops being sold in the region. Our growing customer base, and increasing distribution footprint, means we are confident that 2021 will be another transformative year for ENGAGE."

F or further information, please contact:

VR Education Holdings plc David Whelan, CEO Séamus Larrissey, CFO Sandra Whelan, COO	Tel: [phone] [e-mail]
Cairn Financial Advisers LLP  (Nominated Adviser) James Caithie / Liam Murray / Ludovico Lazzaretti	Tel: [phone]
Shard Capital Partners LLP  (Joint Broker) Damon Heath / Erik Woolgar	Tel: [phone]
Davy  (Joint Broker & Euronext Growth Advisor) Fergal Meegan / Barry Murphy	Tel: [phone]
SEC Newgate  (Financial PR) Elisabeth Cowell / Robin Tozer / Isabelle Smurfit	Tel: [phone] [e-mail]

Notes to Editors:

VR Education (AIM: VRE; Euronext Growth: 6VR) is a virtual reality ('VR') technology company focused on becoming a leading global provider of virtual communications solutions through its proprietary software platform, ENGAGE, ENGAGE provides users with a platform for creating, sharing, and delivering VR content for education, training, and online events through its three solutions: Virtual Campus, Virtual Office, and Virtual Events.  

VRE is listed on AIM in London and on the Enterprise Securities Market, a market regulated by Euronext Dublin.  For further information, please visit:  www.vreducationholdings.com

 

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