Mercia Technologies PLC is pleased to announce that nDreams Limited (nDreams) has won a multi-million dollar contract with one of the world's foremost virtual reality (VR) technology companies.
This new contract for nDreams, a leading European developer and publisher focused on VR gaming and experiences content, represents the company's most significant contract win to date.
Mercia, which holds a 45.6% direct equity stake in nDreams, initially financed nDreams' pivot from developing content for PlayStation Home Virtual Worlds to successfully becoming a specialist in virtual reality content provision. Following early support from Mercia's managed funds, Mercia made its first direct investment into nDreams in December 2014. Since then nDreams has been working with the leading global names in the VR industry including Sony PlayStation, Oculus, HTC, Google and Microsoft.
Dr Mark Payton, Chief Executive Officer of Mercia Technologies PLC, said: "This contract is not only highly significant for nDreams, as it reinforces the substantial potential value of this exciting VR business, but it is also a reflection of the wider inherent value held in the Mercia direct investment portfolio.
Today's announcement, which follows the recent Oxford Genetics announcement, is the second multi-million pound contract which Mercia's two largest direct investments by value have recently secured and taken together, demonstrate the tangible commercial progress which the portfolio is making. We expect to announce further positive news from our direct investment portfolio in due course."
The full RNS announcement can be found here.