STOCKHOLM, Oct. 25, 2018 /PRNewswire/ -- Bublar Group (BUBL MTF), a publicly listed Augmented Reality (AR) gaming studio, has acquired the Swedish AR/VR company Vobling. Through the acquisition, Bublar Group and Vobling become the largest publicly listed AR/VR solutions company in the Nordic region, strengthening their position in the B2B market.
"The AR/VR market is growing rapidly," says Magnus Granqvist, CEO of Bublar Group. "Through this acquisition, we strengthen our gaming studio with state-of-the art knowledge, production resources and the ability to capture opportunities from the corporate market. Together, we will work towards the goal of becoming the leading AR/VR company in Europe."
The deal values Vobling at approximately $5.5M in a combination of stock and cash. The expanded team will strengthen production capacity for the companies' corporate customers and gaming portfolio, including the AR-based Hello Kitty game. The anticipated game, based on the popular portfolio of characters owned by Japan-based Sanrio, will be released in 2019.
"We are proud of the competent, profitable and fast-growing company we have built," says Anders Ribbing, CEO of Vobling. "The industry is now on the cusp of major breakthroughs in AR/VR technology, evidenced by growing demand for our products and services. The synergies with Bublar will serve to increase our joint potential."
As part of the acquisition terms, Vobling becomes a subsidiary of Bublar and will act under the Vobling brand. To date, Vobling has completed projects within education, gaming and entertainment, marketing, real estate and transportation based on AR/VR and NUI (Natural User Interfaces).
For images and more information, please visit: www.bublar.com or www.vobling.com
About Vobling
Vobling AB, founded in 2015, is a solutions and consulting company and studio providing the B2B market with AR/VR solutions, development in 3D visualization and game engines. The company has offices in Stockholm and Manila, Philippines, with a wide range of clients.
About Bublar Group
Founded in 2015, Bublar Group AB (publ) is a Swedish technology and games development company with a mission to merge the real and imaginary worlds using augmented reality. Its proprietary software platform blends augmented reality (AR) with geolocation to create a more immersive experience for mobile gaming and other apps, supporting millions of users in real-time. Bublar recently launched the immersive AR boxing game, "Glowing Gloves", the first mobile sports PvP-game to leverage Apple's motion tracking technology. The beta-version is available for download on the AppStore.
Bublar Group AB (publ) is listed on the Nordic Growth Market (NGM) (NGM: BUBL MTF, ISIN: SE0010270793), a regulated exchange, authorized by the Swedish Financial Supervisory Authority. NGM is a wholly-owned subsidiary of Boerse Stuttgart, a German exchange. For more information please visit www.bublar.com
Contact:
Magnus Granqvist
CEO Bublar Group AB (publ)
e-mail: magnus.granqvist@bublar.com
Anders Ribbing
CEO Vobling AB
e-mail: anders.ribbing@vobling.com
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