(Alliance News) - Shares rose in VR Education Holdings PLC on Friday as its ENGAGE platform was chosen by social media behemoth Facebook Inc to be included within Facebook's Oculus Independent Software Vendors programme.
Shares in the education and training-focused virtual reality tech firm were up 18% at 7.07 pence in London on Friday.
VR Education's ENGAGE platform is a VR training and education platform, while Facebook's Oculus ISV programme is designed to accelerate the consumer adoption of VR technology by encouraging software firms and developers to build applications using Oculus products.
Under the agreement, VR Education's ENGAGE will be made available through a special portal for Oculus enterprise clients to access and use. In addition, VR Education will be one of the few developers that can provide services using Facebook's equipment.
The adoption will take place in early 2020, following Facebook's anticipated roll-out of Oculus for Business.
"It is fantastic to be chosen by Facebook to help accelerate the wider adoption of VR globally. Oculus has an amazing technology platform and ENGAGE is leading the way when it comes to distance learning and remote team collaboration," said VR Education Chief Executive David Whelan.
"Business and enterprise will only adopt new technology when they see compelling advantages to doing so and ENGAGE is being developed to meet these business needs providing virtual meeting rooms and training scenarios which save customers time and money," Whelan added.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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