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- Vection Technologies (VR1) has executed an Original Equipment Manufacturer (OEM) agreement with HP
- The OEM collaboration is essential in the delivery of Virtual Reality Integrated Solutions to over 170 countries, using HP’s VR hardware and Vection’s VR software
- The financial impact of this agreement is yet to be determined, with revenue subject to the successful delivery of marketing and sales initiatives by both companies
- Vection Technologies shares are down 4 per cent, trading at 12 cents
Vection Technologies (VR1) has executed an Original Equipment Manufacturer (OEM) agreement with multinational technology company HP.
Vection is an Australian software company, focused on real-time technologies for industrial companies’ digital transformation through a combination of virtual reality, 3D, augmented reality and computer-aided design solutions.
The agreement will be a major game-changer in the delivery of Vection and HP’s newest tech, Virtual Reality (VR) Integrated solutions, in over 170 countries via HP’s global network.
The technology collaboration will see the companies combine HP’s VR hardware and Vection’s VR software.
“This agreement with HP is an additional stepping-stone in the company’s aggressive global growth strategy, aimed at providing customers worldwide with revolutionary VR technology. We are looking forward to an exciting second half of the financial year, generating increased value for our stakeholders,” said Vection Managing Director, Gianmarco Biagi.
The financial impact of this agreement has not yet been determined, with revenue subject to the successful delivery of marketing and sales initiatives by the two companies.
“We are glad to welcome Vection Technologies and Mindesk in our OEM Program. Working together will help Vection to provide an integrated hardware and software service to enterprise customers,” said Virtual Reality and Data Science Business Development Manager (US) at HP, Matt Gaiser.
“Vection’s products can leverage Z by HP workstations and VR devices to foster professional CAD development and accelerate go-to-market time across many industries,” he added.
This agreement follows on from the entry of Vection’s Mindesk in the “HP Independent Software Vendor Partner Program: Virtual Reality Track” during August 2019.
Vection Technologies shares are down 4 per cent, trading at 12 cents at 9:22 am AEDT.
