VR Education rises on HTC product announcement

Virtual reality (VR) technology company VR Education updated the market on its partnership with HTC, which is a Taiwan-based consumer electronics company that specialises in VR technology, and holds a 20% stake in VR Education.

The AIM-traded firm noted that HTC made two announcements overnight, which were expected to increase the rollout of its proprietary software platform ‘Engage’, which was being sold as ‘Vive Sessions’ in China.

It said HTC would now include Vive Sessions in the software bundle of its new VR headset, the Vive Focus 3 XR.

HTC also announced a partnership with HP to roll out Vive Sessions on new HP ProBook laptops sold within China.

“The inclusion of Engage, under the Vive Sessions branding, as part of the new Vive Focus 3, as well as HTC's partnership with HP, is fantastic news,” said chief executive officer David Whelan.

“The launch of Vive Focus 3 is the trigger for increased marketing and business development from HTC as part of our partnership, and we expect the take-up of Vive Sessions to increase.”

Whelan said the company believed the announcements represented a “major step” in its China rollout.

“China is the fastest-growing immersive market in the world - we look forward to the many exciting opportunities on the horizon.”

At 1302 BST, shares in VR Education were up 7.51% at 16.67p.