With Toronto, currently in the midst of a mini housing boom which has seen rises in house prices and an influx of commercial development, Australian tech company ServTech Global (ASX: SVT) is set to launch their virtual reality (VR) and augmented reality (AR) software in Canada.
The expansion comes via a software distribution agreement with Canadian marketing company App Arquela which will enable Canadian companies to use the VR and AR software solutions most commonly utilised by real estate agents, architects and interior designers to create building visualisations.
“App Arquela represents the Company’s first step in the North American market ahead of the US launch planned for 2020,” said ServTech Managing Director, Gianmarco Biagi.
“We will deploy best-in-class VR & AR communication solutions to the Canadian market, supported by the experience achieved with our ongoing collaborations with Tier1 companies such as Volvo Car Italy.”
The software, FrameS, enables users to create visualisations to showcase designs digitally prior to the commencement of development with customers using the software via an ongoing subscription fee.
In line with their growth strategy to advance its global marketing of FrameS under the Software-as-a-Service model, the company will be re-branding under the new name Vection – the original creators of the software and company acquired by ServTech.
This step change in direction for ServTech has kicked off quickly, prior to the official re-brand, with agreements recently put in place to launch in Scandinavia as well as a partnership with global Oil & Gas company Bonatti to build VR training solutions for their operating sites.
Following their initial launch in Canada, the company intends to target the United States market.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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