Business
ProBility Media Corp. Enters Into Letter of Intent to Acquire VISYON, a Developer of Virtual & Augmented Reality Applications
ProBility Media Corp. Enters Into Letter of Intent to Acquire VISYON, a Developer of Virtual & Augmented Reality Applications.
About this update from Probility Media Corp.
[{"type":"text","content":"\n \n \n ProBility Media Corp. Enters Into Letter of Intent to Acquire VISYON, a Developer of Virtual & Augmented Reality Applications\n \n \nProBility Media Corp. Enters Into Letter of Intent to Acquire VISYON, a Developer of Virtual & Augmented Reality Applications\n\nTransaction Expands ProBility's Capabilities into Industrial and Medical Training, Healthcare and Entertainment\n\n \n HOUSTON, TX--(Marketwired - Nov 28, 2017) - ProBility Media Corp. (OTCQB: PBYA), an education and training technology company based in Houston, Texas, today announced the execution of a binding letter of intent to acquire VISYON, based in Barcelona, Spain. This combination will result in a fully integrated digital services company providing immersive technologies for education and training to several industry verticals, including industrial and medical training, healthcare and entertainment. The transaction is subject to the satisfaction of certain closing conditions including the execution of definitive documents and specified financial milestones. VISYON is an award winning digital services company empowering innovation through the use of emerging technologies to develop creative media solutions. Through the inventive application of virtual reality, augmented reality, and artificial intelligence, VISYON builds products and performs services for a multitude of enterprise customers. One of its lead products includes Telepport, the first VR streaming platform enabling two-way real-time communication, which offers vast opportunities in training, particularly for teams and remote presence. Another lead product, VROADCASTER, is a fully customizable platform for watching live and VOD events employing multiple camera feeds and several layers of dynamic data visualization and virtual environments which will greatly enhance the delivery of high quality training. \n \"We are incredibly excited to collaborate with VISYON's expertise in merging digital media and film with innovation, which has propelled it to one of the leading providers of immersive product development and technological social innovation in Europe,\" stated Evan Levine, Chairman and Chief Executive Officer of ProBility Media Corp. \"For several years, VISYON has collaborated with leading universities and schools enabling students to learn faster and easier utilizing emerging techno...