REG - Engage XR Holdings - Commercial reseller agreement signed with Lenovo

ENGAGE XR HoldingsAnnouncement

21/11/2022 07:01

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RNS Number : 9641G  Engage XR Holdings PLC  21 November 2022

21 November 2022

 

ENGAGE XR Holdings Plc

("ENGAGE XR" or the "Group")

 

Commercial reseller agreement signed with Lenovo

 

ENGAGE XR Holdings Plc (AIM: EXR; Euronext Growth: EXR), a leading metaverse
technology company, has signed a commercial reseller agreement ("The
Agreement") with Lenovo™, one of the world's largest computer manufacturing
and smartphone companies.

 

The Agreement covers the resale and distribution of end user licenses by
Lenovo for the Group's proprietary software platform, ENGAGE and for metaverse
production services targeted at Lenovo's enterprise clients. ENGAGE XR and
Lenovo will work together on the sales and marketing of ENGAGE XR's metaverse
for business, ENGAGE Link. Lenovo is one of 14 launch partners, and it is
building its own virtual world within ENGAGE Link. As part of The Agreement,
Lenovo will sell ENGAGE licenses and services through its own distribution and
sales channels to its customers, targeting those businesses seeking to enter
the metaverse.   The Agreement follows the announcement of Lenovo's plans to
launch a new all-in-one virtual reality (VR) headset engineered for enterprise
customers called The Lenovo ThinkReality VRX.  The headsets will be available
in select markets worldwide starting in early 2023.

Launched earlier this month, ENGAGE Link has been developed by the Group as a
metaverse platform designed for corporations, professionals, education
organisations, and event organisers. ENGAGE Link allows enterprises to use the
metaverse to create their own virtual worlds to provide services directly to
their own clients and to engage with employees and suppliers. Here is the
latest demonstration: https://youtu.be/FM798SSv9rE
(https://youtu.be/FM798SSv9rE)

David Whelan, CEO, ENGAGE XR said: "Many of Lenovo's clients, including
leading Fortune500 companies, are looking to enter the metaverse. This
Agreement will help establish ENGAGE as the business platform of choice for
these organisations. We know how well ENGAGE runs on all Lenovo's devices,
including PCs, Phones, Tablets and the soon to be released ThinkReality VRX
headset, which has been designed for enterprise use.

"This agreement is a huge endorsement of the ENGAGE platform. Having worked
closely with us on the launch of ENGAGE Link, it is fantastic that Lenovo want
to put us forward as a metaverse solution for their biggest clients.  Lenovo
has an incredibly successful sales and marketing operation, shifting tens of
millions of product units every year around the world. We believe the
combination of our platform, Lenovo's client list and its global sales
function will deliver tangible results for the Group in 2023."

 

For further information, please contact:

 

 ENGAGE XR Holdings Plc                                      Tel: +353 87 665 6708

 David Whelan, CEO                                           info@engagexr.co

 Séamus Larrissey, CFO

 Sandra Whelan, COO

 finnCap Ltd (Nominated Adviser & Joint Broker)              Tel: +44 (0) 20 7220 0500

 Marc Milmo/ Seamus Fricker (Corporate Finance)

 Sunila de Silva / Harriet Ward (ECM)

 Shard Capital Partners LLP (Joint Broker)                   Tel: +44 (0) 20 7186 9952

 Damon Heath / Erik Woolgar

 Davy (Joint Broker & Euronext Growth Listing Sponsor)       Tel: +353 1 679 6363

 Barry Murphy / Lauren O'Sullivan / Oisin Morgan

 SEC Newgate (Financial Communications)                      Tel: +44 (0)7540 106 366

 Robin Tozer / Isabelle Smurfit                              engage@secnewgate.co.uk

 

 

About ENGAGE XR

ENGAGE XR Holdings plc (AIM: EXR; Euronext Growth: EXR) is metaverse
technology company focused on becoming a leading global provider of virtual
communications solutions through its new fully featured corporate metaverse,
ENGAGE Link.

 

The Company also has a proprietary software platform, ENGAGE. ENGAGE provides
users with a platform for creating, sharing, and delivering VR content for
education, training, and online events through its three solutions: Virtual
Campus, Virtual Office, and Virtual Events.

 

EXR is listed on AIM in London and on the Euronext Growth Market in Dublin, a
market operated by Euronext Dublin.

 

For further information, please visit: www.engagexrholdings.com (LinkedIn:
@Engage XR Holdings plc Twitter: @engage_xr)

 

 

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