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Immotion surpasses 430 VR headsets with new deals

08:50, 20th February 2020
Francesca Morgan
Company News
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UK-based immersive virtual reality firm, Immotion Group (AIM:IMMO) FOLLOW , has signed contracts for over 430 of its virtual reality headsets after winning new deals for 68 devices in the past week.

The London-listed ‘Out of Home’ entertainment group said the additional 68 contracted headsets will cover 11 sites including the company’s first outdoor enclosure of 8 headsets at Roger Williams Zoo in Rhode Island in the United States.

The total number of operating headsets now stands at 432, of which 314 will be in partner locations and 118 in the company’s own locations.

The bulk of the new installations is expected to occur throughout the first quarter of 2020 and will be fulfilled by its current stock, the statement outlined.

Shares in Immotion Group were trading 6.72% higher at 7.15p during Thursday trading.

IMMO price chart
“We remain confident in our business model, and that we will achieve our breakeven target around the end of Q1 2020” said Martin Higginson. CEO of Immotion Group.

He added, “Partner demand continues, and with a combination of new experiences, outdoor enclosures, and larger theatre solutions now available, we are well-positioned for growth."

Follow News & Updates from Immotion Group here: FOLLOW

Watch our Q&A with CEO, Martin Higginson, who discusses the news and how the company may be approaching a tipping point.

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