Starbreeze confirms StarVR IPO talks
STOCKHOLM, SWEDEN (8 February 2018) Starbreeze AB, today confirmed that the company is in talks with the Taiwanese PC Manufacturer Acer about potentially IPO the joint venture StarVR Corporation, but no decision has been taken.
“I can confirm that we are in talks with Acer on the possibly of an IPO for StarVR.” said Bo Andersson-Klint, Starbreeze CEO.
“We’re in agreement with Acer that this is an excellent way to propel the business into becoming the leading global VR company we set out to create from the beginning. StarVR’s mission is to provide VR related hardware for enterprise solutions and location-based entertainment set ups, such as the VR center that we are building in Dubai. With the research and development phase of the StarVR headset completed, we are confident we have the best, most durable and most scalable solution on the market. With 210-degrees field of view, in high definition resolution over the entire field, eye-tracking, support for multiple tracking solutions, lightweight casing, backpack wireless option and its own 2nd generation Fresnel lens - the StarVR headset is a real technological achievement. With the headset and its subsystems in near completion, StarVR is well set for its own successful business. We are excited to be able to demonstrate this capability in our VR center in Dubai in the near future.”
As a content provider for StarVR, Starbreeze foresees a healthy VR business in the location-based entertainment segment.
Since October 2017, Starbreeze AB owns 33.3 percent and Acer 66.6 percent of joint venture StarVR Corporation, which is a sales and marketing company that manages the sales organization, support and aftermarket support for the StarVR headset.
Starbreeze owns and controls the IP rights related to StarVR, while Acer manufactures the product. Development and reference design work for the headset are carried out jointly by Starbreeze and Acer. The VR content work takes place within Starbreeze.
For more information, please contact:
Ann Charlotte Svensson, Head of Investor Relations and Corporate Communications
Tel: +46(0)8-209 208, email: email@example.com
Starbreeze is a global game company whose vision is to be a leading provider in the entertainment industry by creating world-class experiences. Starbreeze was founded in 1998 and has since evolved into a well-established developer and publisher of PC and console games and VR products aimed at the global market. With studios in Stockholm, Paris, Los Angeles, Barcelona, Brussels and India, Starbreeze develops high-quality entertainment products based on proprietary and third-party rights, both in-house and in partnership with external game developers. Operations are organized in three business areas: Starbreeze Games, Publishing and VR Tech & Operations. Starbreeze shares are listed on Nasdaq Stockholm under the tickers STAR A and STAR B with the ISIN-codes SE0007158928 (A share) and SE0005992831 (B share). For more information, please visit starbreeze.com