STOCKHOLM, August 24, 2017 /PRNewswire/ --
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.
For more information, please contact:
Ann Charlotte Svensson
Head of IR and Corporate Communications
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SOURCE Starbreeze AB