Engage Xr Regulatory News (EXR)

21 November 2022

ENGAGE XR Holdings Plc

("ENGAGE XR" or the "Group")

Commercial reseller agreement signed with Lenovo

ENGAGE XR Holdings Plc (AIM: EXR; Euronext Growth: EXR), a leading metaverse technology company, has signed a commercial reseller agreement ("The Agreement") with Lenovo™, one of the world's largest computer manufacturing and smartphone companies.

The Agreement covers the resale and distribution of end user licenses by Lenovo for the Group's proprietary software platform, ENGAGE and for metaverse production services targeted at Lenovo's enterprise clients. ENGAGE XR and Lenovo will work together on the sales and marketing of ENGAGE XR's metaverse for business, ENGAGE Link. Lenovo is one of 14 launch partners, and it is building its own virtual world within ENGAGE Link. As part of The Agreement, Lenovo will sell ENGAGE licenses and services through its own distribution and sales channels to its customers, targeting those businesses seeking to enter the metaverse. The Agreement follows the announcement of Lenovo's plans to launch a new all-in-one virtual reality (VR) headset engineered for enterprise customers called The Lenovo ThinkReality VRX. The headsets will be available in select markets worldwide starting in early 2023. 

Launched earlier this month, ENGAGE Link has been developed by the Group as a metaverse platform designed for corporations, professionals, education organisations, and event organisers. ENGAGE Link allows enterprises to use the metaverse to create their own virtual worlds to provide services directly to their own clients and to engage with employees and suppliers. Here is the latest demonstration: https://youtu.be/FM798SSv9rE

David Whelan, CEO, ENGAGE XR said: "Many of Lenovo's clients, including leading Fortune500 companies, are looking to enter the metaverse. This Agreement will help establish ENGAGE as the business platform of choice for these organisations. We know how well ENGAGE runs on all Lenovo's devices, including PCs, Phones, Tablets and the soon to be released ThinkReality VRX headset, which has been designed for enterprise use.

"This agreement is a huge endorsement of the ENGAGE platform. Having worked closely with us on the launch of ENGAGE Link, it is fantastic that Lenovo want to put us forward as a metaverse solution for their biggest clients. Lenovo has an incredibly successful sales and marketing operation, shifting tens of millions of product units every year around the world. We believe the combination of our platform, Lenovo's client list and its global sales function will deliver tangible results for the Group in 2023."

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About ENGAGE XR

ENGAGE XR Holdings plc (AIM: EXR; Euronext Growth: EXR) is metaverse technology company focused on becoming a leading global provider of virtual communications solutions through its new fully featured corporate metaverse, ENGAGE Link.

The Company also has a proprietary software platform, ENGAGE. ENGAGE provides users with a platform for creating, sharing, and delivering VR content for education, training, and online events through its three solutions: Virtual Campus, Virtual Office, and Virtual Events. 

EXR is listed on AIM in London and on the Euronext Growth Market in Dublin, a market operated by Euronext Dublin. 

For further information, please visit: www.engagexrholdings.com (LinkedIn: @Engage XR Holdings plc Twitter: @engage_xr)