PRESS RELEASE: 4:30 PST September 22, 2018,
Vancouver, British Columbia
Toronto-based Virtual, Augmented & Mixed Reality (XR) consulting group, MetaVRse is acquiring Augmented Reality startup KP9 Interactive. The acquisition is part of a plan to consolidate top talent in the XR industry with a focus on vCommerce (VR/AR for Retail & e-Commerce).
MetaVRse was formed only two and a half years ago and has since established itself as a world-leader in developing business solutions. Past clients include Samsung, Kubota, HBO, Bell, Huawei and Aurora Cannabis.
KP9 Interactive was formed out of another startup called Augmented Marketing with vast experience in mobile-phone based augmented reality marketing tools for the past four years. The CEO of KP9, Wil McReynolds has been working in the space since 2011. McReynolds, who previously worked with Metaio (acquired by Apple) will assume the role of CTO at MetaVRse.
“We are absolutely thrilled to welcome the KP9 Interactive team into the MetaVRse family” said MetaVRse CEO, Alan Smithson, who announced the acquisition live during his keynote at the VR/AR Association Global Summit in Vancouver. “Wil and his team will be instrumental to our long term plans to create a full vCommerce platform to serve the over 1.5 billion smartphone users buying products and services online”
The acquisition details were not revealed, but sources close to the deal say it was a significant valuation for KP9.
“We have been quietly building tools to help us create new AR experiences fast and these tools will enable a new generation of AR developers to make next level experiences” commented Wil McReynolds, the newly appointed CTO. “We are very excited to do what we do best, invent and build the tools of the future. We were on a great trajectory already and with this partnership, that line goes straight up” continued McReynolds.
No details were given on the platform they are building, but Smithson presented a series of impressive demos that showed off some of the products that are being deployed at the company including FloorCast™, a tool for visualizing flooring, walls and countertops for home renovations and YardCast™ a tool for visualizing products in your backyard. Both products are running on what Smithson refers to as their proprietary WorldCast™ Engine. “We will be releasing a number of products over the next 12 months that will blow people’s minds” commented Alan Smithson.
In addition to this acquisition, it was quietly announced last week, MetaVRse COO, Julie Smithson has also assumed the Co-President role at the VR/AR Association, Toronto Chapter.
It looks like MetaVRse is about to make some pretty big moves.
MetaVRse is North America’s Leading Virtual & Augmented Reality Consultancy. Nominated for Global VR Startup of the Year, 2017 and named Techweek’s Top 100 Rising Startups. MetaVRse advises Fortune 500 companies on how to use VR/AR for Retail, vCommerce, Education and Training. MetaVRse also invented the VR Photo Booth™, Web3D Player™, WorldCast™ Engine, and 3DXR™ Digital Content Management platform; https://metavrse.com
Alan Smithson, CEO