LONDON (Alliance News) - Immotion Group PLC on Friday said it inked a USD500,000 VR content creation contract with Amsterdam-based entertainment specialist firm iP2Entertainment.
The out-of-home entertainment business said that under the contract it will produce three exclusive VR and immersive experiences for IP2Entertainment. The experiences will be available later this year and into 2020, with all work to be completed in November.
"iP2Entertainment are well recognised as being one of the leading players in the 'out of home' immersive entertainment space," Immotion Chief Executive Officer Martin Higginson said.
He added: "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."
Immotion Group shares were trading up 8.2% at 6.98 pence each on Friday.