IMMO.L Share News (IMMO)

(Sharecast News) - Immersive virtual reality company Immotion Group announced the signing of a $0.5m VR and immersive content creation contract with Amsterdam-based global family entertainment specialist iP2Entertainment on Friday.The AIM-traded firm said the new contract would see Immotion Group producing three exclusive VR and immersive experiences for IP2Entertainment.It said the experiences would be available for iP2Entertainment centre visitors later in the year, and into 2020, with all work scheduled to be completed by November.The collaborative partnership would add "significant" benefit to both organisations, Immotion said, allowing it to develop the experiences for iP2Entertainment and provide itself with access to them for non-competing uses."iP2Entertainment are well recognised as being one of the leading players in the 'out of home' immersive entertainment space," said Immotion Group chief executive officer Martin Higginson."Having the opportunity to work with them in the creation of some cutting-edge VR experiences will not only deliver valuable revenue for the studio but also help us further develop and showcase our skill set in this exciting market, whilst providing access to some exciting new content."