Last checked at 20 Jun 2018 07:00
RNS Reach | 20 June 2018 |
Mercia Technologies PLC
("Mercia" or the "Group")
VirtTrade secures partnership with Formula 1
Mercia Technologies PLC (AIM: MERC), the national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions, is pleased to announce that its direct investment, VirtTrade Ltd ("VirtTrade"), has secured a partnership with Formula 1 to join its growing roster of digital initiatives, aimed at providing innovative new methods for fan engagement in the sport.
VirtTrade is a developer and publisher of digital trading cards and works with licensors to create high quality engagement apps for fans. The VirtTrade platform allows fans around the world to pursue their passions by collecting digital cards, making trades and competing in games.
This new Formula 1 partnership follows the recent agreement of a three-year collaboration with Valiant Comics to develop an extensive digital collectibles app, based on the company's characters and titles.
VirtTrade has been selected to feature in Tech City UK's Upscale 2018 programme, a cohort of the UK's fastest growing technology companies. Duncan Best, the former chief marketing officer of Dovetail Games, has also recently joined VirtTrade as Publishing Director.
Paul Mayze, Managing Director of VirtTrade, said: "We are thrilled to be working with Formula 1 and the opportunity that the brand presents for a digital collecting experience. We look forward to helping Formula 1 and its owners enter a new space to engage fans and drive revenue streams."
Mike Hayes, Head of Digital & Digital Entertainment at Mercia, said: "This is a really exciting time for VirtTrade and Mercia is pleased to continue supporting the business as it goes from strength to strength, by building strategic partnerships with high-profile brands such as Formula 1, The Discovery Channel and Valiant Comics. We look forward to seeing the business scale and grow, delivering shareholder value over the medium term."
Adam Crothers, Head of Digital New Business at Formula 1, said: "VirtTrade offers F1 a new and alternative take on presenting our mix of content as well as a new entry point for fans. We think their unique take on collectibles gamification will be a hit with our current fan-base too and the product offers a game type environment that isn't simply simulation based."
For further information, please contact:
Mercia Technologies PLC Mark Payton, Chief Executive Officer Martin Glanfield, Chief Financial Officer www.merciatech.co.uk
| +44 (0)330 223 1430
|
Cenkos Securities plc Stephen Keys, Camilla Hume (NOMAD and Joint Broker)
| +44 (0)20 7397 8900
|
Canaccord Genuity Limited | +44 (0)20 7523 8000 |
Simon Bridges, Emma Gabriel (Joint Broker) | |
Buchanan Bobby Morse, Chris Lane, Stephanie Watson www.buchanan.uk.com |
+44 (0)20 7466 5000 |
About Mercia Technologies PLC
Mercia is a national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions. Mercia benefits from 19 university partnerships and offices across the Midlands, the North of England and Scotland providing it with access to high quality, regional deal flow. Mercia Technologies PLC is quoted on AIM with the epic "MERC".
Mercia's 'Complete Capital Solution' initially nurtures businesses via its third party funds (now with circa £350.0million under management following recent mandate wins) and then over time Mercia can provide further funding to its Emerging Stars by deploying direct investment follow-on capital from its own balance sheet. Since its IPO in December 2014, Mercia has invested over £46.0million directly across its portfolio of 'Emerging Stars'.
About Formula 1®
Formula 1® racing began in 1950 and is the world's most prestigious motor racing competition, as well as the world's most popular annual sporting series. The 2018 FIA Formula One World Championship™ runs from March to November and spans 21 races in 21 countries across five continents. Formula One World Championship Limited is part of Formula 1, and holds the exclusive commercial rights to the FIA Formula One World Championship™.
Formula 1 is a subsidiary of Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the Formula One Group tracking stock.
The F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trademarks of Formula One Licensing BV, a Formula 1 company: All rights reserved.