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VECTION TECHNOLOGIES LTD — Capital/Financing Update 2021
Jan 31, 2021
66017_rns_2021-01-31_675f5d3d-ddb1-4024-830c-ef23825e3200.pdf
Capital/Financing Update
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1 February 2021 | Australia
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ASX RELEASE
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Real-time software company Vection Technologies Ltd ( ASX:VR1 ) ( Vection Technologies , Vection or the Company ) is pleased to announce the execution of an Original Equipment Manufacturer ( OEM ) agreement with multinational technology company HP Inc ( HP ).
The OEM collaboration will play a critical role in the delivery of Virtual Reality ( VR ) Integrated solutions (HP’s VR hardware and Vection’s VR Software) in over 170 countries via HP’s global network. 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.
subject to the successful delivery of marketing and sales initiatives by the two companies, this agreement is anticipated to be material for the Company. This view is based on the expanded commercial ability of the Company via HP’s global network.
Matt Gaiser, Virtual Reality and Data Science Business Development Manager (US) at HP Inc - commented:
“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. 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.”
Gabriele Sorrento, Director and Head of Global Partnerships of Vection Technologies, commented:
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“Working with HP is another key step in the commercial network development strategy aimed at supporting Vection’s growth. Being HP OEM partners means for us being able to manage and deliver hardware and software bundles globally. This agreement represents a long step forward for our commercial operation structure.”
Gianmarco Biagi, Managing Director of Vection Technologies, commented:
“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.”
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Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041
Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy
North America Address: 785 Market Street, #600 San Francisco CA 94103 USA
Media Enquiries [email protected] [email protected]
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Address: 642 Newcastle Street, Leederville WA 6007 Phone: +618 6380 2555
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Investor Relations Contact Details
Gianmarco Biagi - Managing Director (Europe Based)
Email: [email protected] Phone: +39 051 0142248
Gianmarco Orgnoni - Director and COO (Australia Based)
Email: [email protected] Phone: +61 8 6380 2555
ENDS
About Vection Technologies:
Vection Technologies Ltd (ASX:VR1) is a multinational software company that focuses on real-time technologies for industrial companies’ digital transformation.
Through a combination of our 3D, Virtual Reality, Augmented Reality, Industrial IoT and CAD solutions, Vection Technologies helps companies and organisations to innovate, collaborate and create value.
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For more information please visit the Company’s websites:
vection.com.au
mindeskvr.com
ASX release authorised by the Board of Directors of Vection Technologies Ltd.
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Vection Technologies Ltd (ASX:VR1) ACN: 614 814 041
Europe Address: Via Isonzo 61 40033 Casalecchio di Reno (BO), Italy
Media Enquiries [email protected] [email protected]
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Address: 642 Newcastle Street, Leederville WA 6007 Phone: +618 6380 2555
North America Address: 785 Market Street, #600 San Francisco CA 94103 USA