Tern PLC - internet of things-focused investor - Portfolio company FVRVS Ltd wins three-year contract worth a minimum of GBP900,000 from an unnamed global medical device company. Contract is for the creation of a virtual reality, that will be embedded on a VR headset to accompany every installation of the client's product, to teach and provide assistance to the end-user.
"This contract and the recently announced follow-on order from a global pharmaceutical client are, we believe, strong validations of FundamentalVR's technology. We look forward to the continuing progress of FundamentalVR and the securing of further contracts from their significant pipeline of opportunities," Chief Executive Al Sisto says.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Tern (TERN)