BILBAO, December 19th.- Virtualware (EPA:MLVIR), a pioneer in virtual reality solutions, commemorated yesterday its 20th anniversary with an open letter by its CEO, Unai Extremo, in which the company unveiled a Strategic Plan for 2024-2026, emphasizing innovation and global expansion in virtual and augmented reality.
The announcement highlights its commitment to innovation and global expansion in the field of virtual and augmented reality.
"Twenty years ago, we couldn't have imagined where this journey would take us," said Unai Extremo, CEO of Virtualware, in his open letter to the market. "Today, as we celebrate two decades of pioneering VR, we're excited to unveil our strategy for the next phase of growth and innovation."
The strategic plan focuses on four key pillars:
- Expansion and Focus on VIROO: Aiming to enhance VIROO's global presence, Virtualware will concentrate on technological advancements and exploring new market opportunities, especially in the United States.
- Excellence in VRaaS Products and Services: Committed to delivering high-impact VR as a Service (VRaaS) solutions, Virtualware seeks to provide substantial value across various industries.
- Social Impact and Sustainability: Beyond technological contributions, Virtualware is dedicated to fostering sustainable practices within the industry, amplifying its social impact.
- Attracting Top Talent: Recognizing the importance of skilled professionals, Virtualware is committed to creating a stimulating, inclusive work environment for industry-leading talent.
Virtualware's CEO, in his statement, expressed confidence in the strategic plan's potential to "set new standards in the immersive technology industry." The plan is expected to drive significant organic growth and position Virtualware at the forefront of technological advancements in VR and AR.
In its strategic vision for the future, Virtualware announced that it is actively exploring opportunities for inorganic growth by identifying compatible companies for potential mergers or acquisitions.
This approach is aimed at expanding the company's reach, enhancing its technological capabilities, and accelerating growth in the rapidly evolving virtual and augmented reality markets. Virtualware's leadership team is committed to seeking out synergistic partnerships that align with their innovative vision and can contribute to the company's ongoing success and expansion in the global marketplace.
Last week, the company was recognized by the Brandon Hall Group for its excellence in technology. Virtualware won a Gold Award for Edtech Excellence in the Best AR VR Solution category, in partnership with McMaster University and Universidad de El Salvador (UES). Additionally, the company earned a Gold Award in the Best Advance in Augmented and Virtual Reality category for its collaboration with GE Hitachi Nuclear Energy (GEH). These awards highlight Virtualware's impactful use of its VIROO VR platform in educational and industrial training sectors.
Virtualware is a global pioneer in developing Virtual Reality solutions for major industrial, educational, and healthcare conglomerates. Since its founding in 2004, the company has garnered widespread recognition for its accomplishments. In 2021, Virtualware was acknowledged as the world’s most Innovative VR Company.
Its VR as a Service, VIROO, is already used by over 40 companies and institutions worldwide including GE Hitachi Nuclear Energy, Ontario Power Generation, Gestamp, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, University of El Salvador, and EAN University. The enterprise VR platform has been the backbone to develop strategic projects for defense ministries, critical infrastructure training projects, and innovative educational programs.
It is based in Bilbao, Spain, and has offices in Hamilton, Ontario, Canada. Its shares trade in Euronext from April 2023 under ticker MLVIR.
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