Immotion Group PLC Expansion into Spanish Market

TIDMIMMO

Immotion Group PLC

28 September 2018

28 September 2018

Immotion Group PLC ("Immotion Group" or the "Group")

Expands into Spanish Market through Exclusive Partnership Local Operator

Immotion Group PLC, the UK-based immersive virtual reality ("VR") 'Out of Home' entertainment business, is pleased to announce the roll out of its ImmotionVR brand into Spain, which represents a new market for the Company.

The Company has signed an exclusive franchise distribution partnership with a major local leisure operator, Climbing Planet S.L. ("Climbing Planet"), which will open and operate multiple ImmotionVR branded experience centres, and identify additional supply opportunities, across Spain. Climbing Planet will purchase the VR experience simulators from Immotion Group, who will receive an ongoing revenue share from each site, thereby increasing the number of installed seats and positively impacting the cost of entering this consumer market.

The first planned centre will open in a shopping centre in the Northern Spanish city of Logrono in November 2018, followed by a second centre opening at a similar space in Barcelona in December 2018. Using its strong knowledge of the regional market, Climbing Planet plans to identify additional sites in shopping centres and malls with high footfall to continue its expansion.

Each VR centre will contain a host of Immotion Group's VR experience simulators, ranging from VR motorcycles and cars, to VR cinema pods. They will also include dedicated birthday party rooms and a coffee area.

Climbing Planet has experience of launching and operating the free roaming VR Experience "Zero Latency" system across the Spanish mainland and Portugal and therefore is no stranger to virtual reality. Partnering with Immotion has added another solution to its portfolio.

Martin Higginson, CEO of Immotion Group, said: "With a shared vision and a raft of experience that complements Immotion Group's, we see Climbing Planet as an ideal partner to introduce our VR experience centres into Spain. This deal will dramatically lower the cost of entering this exciting consumer market and we expect to benefit from the local knowledge that Climbing Planet benefits from, having rolled out VR experiences previously. The partnership highlights the exciting opportunities the Group continues to explore both within and outside the UK to allow more consumers to experience virtual reality, a lot of whom is for the first time."

Carles Comas Chief Executive Officer of Climbing Planet S.L said: "We are excited to be working with Immotion Group and to be bringing its experiences to Spanish consumers. ImmotionVR provides us with a unique opportunity to launch the ultimate VR destination, and we expect it to be one of our main concepts in the next two years. Immotion Group has created an inspiring offering which fits with our passion to deliver next-generation experiences that provide customers with a taste of the future."

Enquiries:

 
 Immotion Group              Martin Higginson   Tel: [phone] 
 WH Ireland Limited          Adrian Hadden      Tel: [phone] 
  (Nomad and Joint Broker)    Jessica Cave 
 Shard Capital Partners      Damon Heath        Tel: [phone] 
  LLP                         Erik Woolgar 
  (Joint Broker) 
 
 Redleaf Communications      Elisabeth Cowell   Tel: [phone] 
  (Financial PR)              Robin Tozer        [e-mail] 
 

About Immotion Group

Immotion Group, co-founded by Martin Higginson and David Marks in 2017, generates revenues through the delivery of high quality "state of the art" VR experiences, combined with cutting edge motion platforms to consumers at an affordable price point through a range of routes:

-- Sales - sale of VR Motion Platforms to Leisure and Entertainment operators provide the opportunity for the operator to drive substantial ancillary revenues

-- Concession partners - currently installed at a range of outlets including Merlin Entertainments' LEGOLAND(R) Discovery Centres in Boston, USA and in Manchester, UK and Genting Resorts World in Birmingham - this channel provides an opportunity for its partners to earn ancillary revenues, as well as providing an exciting additional attraction to their facilities

-- Owned and franchised outlets, trading as ImmotionVR, located in high footfall shopping centres

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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September 28, 2018 02:03 ET (06:03 GMT)