STOCKHOLM (24 August, 2017) The Swedish location based Virtual Reality (VR) company Enterspace – a part of Starbreeze Group, has signed a five-year supplier agreement with a major United Arab Emirates based company, for a new VR centre in one of the largest malls in Dubai. Enterspace will be the main provider to the VR centre for operations, installations, as well as a main content provider through Starbreeze Studios. Starbreeze will receive 20-25 percent of the future net revenues.
The agreement entails an investment of approximately USD 10 million, fully financed by Nordea guaranteed by the Swedish Export Credit Agency and the joint venture between Starbreeze and Acer, StarVR Corp.
“We are very proud to deliver unparalleled virtual reality experiences at one of the largest and most-visited retail and entertainment destination in Dubai. This opportunity was made possible by Enterspace operational experience and location-based entertainment vision, Starbreeze VR content pipeline, StarVR’s unique 5K resolution and 210-degree field of view VR headset, Nozon’s PresenZ technology as the next movie format for virtual reality and our great partnership with Acer to provide hardware support”, says Bo Andersson Klint, CEO of Starbreeze.
”This is an incredible achievement for Enterspace and Starbreeze, as well as an extraordinary event for the VR industry. It’s a true honor to have Enterspace chosen as the leading partner for the new VR centre. With the Enterspace concept we will push VR beyond the imaginable and utilize all our previous investments in this space to a maximum. The VR centre will be our flagship location for Starbreeze VR initiatives together with our esteemed hardware partners Acer and StarVR as well as our content partners”, continues Bo Andersson Klint. Starbreeze currently works with entertainment companies including Universal Brand Development and Lionsgate
More information about the project is expected to be announced by the parties during Q4 2017.
This information is information that Starbreeze AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8 am CET on 24 August, 2017.
For more information, please contact:
Ann Charlotte Svensson, Head of IR and Corporate Communications, Starbreeze
Tel: +46(0)8-209 208, email: [email protected]
Starbreeze is an independent creator, publisher and distributor of high quality entertainment products. With studios in Stockholm, Paris, Los Angeles, Barcelona and Brussels, the company creates games and other virtual reality entertainment products, based on proprietary design and licensed content. Starbreeze most recent games include PAYDAY 2®, John Wick VR shooter and upcoming survival co-op FPS OVERKILL’s The Walking Dead. Under its publishing initiative, Starbreeze has together with Canadian studio Behaviour Digital successfully launched horror thriller Dead by Daylight.
Starbreeze has set out to develop truly immersive virtual reality (VR) experiences by integrating software and hardware in its StarVR® head mounted display, produced together with Acer. Together with wholly owned subsidiary Enterspace, Starbreeze further solidifies its presence in location based entertainment. StarVR can additionally be found at IMAX VR Centres in Los Angeles and New York.
Headquartered in Stockholm, Sweden, Starbreeze shares are listed on Nasdaq Stockholm First North Premier under the tickers STAR A and STAR B with the ISIN-codes SE0007158928 (A share) and SE0005992831 (B share). Remium Nordic is the company’s Certified Adviser.
More information: starbreeze.com, starvr.com, overkillsoftware.com