Buy and sell. Chop and change. Release and re-evaluate. When it comes to the world of virtual reality (VR) it really doesn’t stay still. Just compare where we are now in terms of the technology to where we were, say, when VRFocus was launched back in the tail end of 2014. Even compare it to two years ago, it’s a very different market. And yet some things never change. There’s still always investment in companies via dedicated investment groups, Class A through to C funding initiatives. New ideas come to the fore and ownership of companies moves around – even we’ve changed places during that time.
The latest firm to announce their acquisition in the immersive technology area is SpaceoutVR. You may not recall SpaceoutVR, but the company from New York state were once upon a time were known by another name, Daydream.io As such they made headlines back in 2016 after Google paid the firm $850,000 to relinquish to them the Daydream trademark, which of course was subsequently used for their second line of head-mounted displays (HMDs). The Google Daydream (specifically, the Daydream View. Since that time SpaceoutVR was also offered support via Start-Up New York, a scheme enabling businesses to use college campus properties and operate without state or local taxation for up to a decade and which saw them partner with Hudson Valley Community College as a result as the company sought to invest and expand.
Now however SpaceoutVR has been acquired by ValueSetters, “a publicly-traded boutique advisory firm” which specialises in helping companies grow financially and make it to the next level. In this instance however, it is ValueSetters themselves who want what SpaceoutVR can provide and are looking to expand their services, adding VR to existing online videogames under their umbrella such as chess.net and add consultancy on VR videogame development as something the company offers.
“Every new technology platform uses games to demonstrate its appeal. With the acquisition of SpaceoutVR, ValueSetters continues to grow its strong tech and games capabilities and will give us the opportunity to become the dominant classic games provider for all VR platforms,” CEO of ValueSetters Cecilia Lenk said in a statement. “In addition, as a leader in the open VR app market, we believe that SpaceoutVR can become a defining brand in the consumer virtual reality space.”
“I am thrilled that SpaceoutVR has joined the ValueSetters portfolio.” Added Lenk’s opposite number at SpaceoutVR, Dennis Adamo. “And we expect access to the VSTR platform to raise our game to a new level. ValueSetters’ management team has done a terrific job placing the company at the forefront of technological innovation, and I look forward to working with them to incorporate virtual reality into their business model.”
For more news on the changes in the VR space, be sure to check back regularly with VRFocus.