Vection Technologies has announced a key acquisition to further strengthen its solutions suite for customers in the fashion sector, unlocking new organic growth opportunities.

Extended reality (XR) tech company Vection Technologies (ASX:VR1) has inked a deal to acquire MYR S.r.l. (MYR), a 3D tech company which it says is revolutionising the fashion and apparel industry.

This proposed acquisition follows VR1’s recent deal to acquire Invrsion,  a tech company developing 3D and mixed reality solutions for the fashion, retail, consumer goods and real estate sector.

VR1 says MYR’s Look Customizer software empowers fashion brands to improve their design and production processes, enabling them to create and customise denim prototypes in a virtual environment with unparalleled ease and precision.

MYR’s consulting services further assist customers in streamlining their design, prototyping, and industrialisation processes for products.

VR1 says with these enhanced capabilities, the company’s customers can improve efficiency, accelerate time-to-market, reduce costs, and deliver more personalised and immersive experiences to their target audience.

Empowering customers with cutting edge solutions

VR1 says its latest acquisition further reinforces its commitment to empowering customers with cutting-edge XR solutions that drive growth and innovation in their respective industries.

Renowned brands such as Diesel, Calvin Klein, and Tommy Hilfiger have entrusted MYR to provide their innovative solutions.

Furthermore, MYR benefits from the support of industry icon Adriano Goldschmied, the visionary behind the global retail clothing company Diesel and instrumental in the development of other successful brands.

VR1 says integration of MYR’s technology within its INTEGRATEDXR suite will bring remarkable advantages to its customers, enhancing their experience and enabling them to leverage innovative solutions in the fashion sector.

Furthermore, it says the tech will enhance commercial value. The company aims to immediately commercialise MYR’s tech across its direct and indirect sales network, driving organic profitable growth.

VR1 says the innovative solutions provided by MYR’s technology offer unique selling points for its customers, enhancing its commercial value and differentiation in the market.

With a strengthened global commercial presence and an extensive suite of INTEGRATEDXR solutions and services tailored to the fashion, retail, and consumer goods sectors, VR1 says its technologies aim to earn and maintain the trust of its customers.

By offering comprehensive and industry-specific solutions, VR1 says it ensures that customers’ needs are effectively met, fostering trust and long-term partnerships.

The company also says integration presents an opportunity to reduce overhead costs by centralising administrative tasks, focusing on industry-specific commercial activities, and unifying the combined research and development efforts.

VR1 says the optimisation directly benefits its customers, delivering higher value at a more efficient cost.

Stronger solutions suite to its customers

VR1 managing director Gianmarco Biagi says the MYR acquisition reinforces its commitment to delivering unparalleled solutions to customers in the fashion, retail, and consumer goods sectors.

“With MYR’s expertise and innovative 3D and mixed reality solutions, we can now provide a stronger suite of solutions that empower our customers to transform their businesses and stay ahead in this rapidly evolving market,” he says.

“This acquisition not only enhances our position as a leader in the extended reality technology space but also unlocks new organic growth opportunities for us as we continue to innovate and expand our customer base.

“We are excited about this acquisition’s potential and the value it will create for our customers and shareholders alike.”

 

 

 

This article was developed in collaboration with Vection Technologies, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Read MoreTech

Featured Companies

You might be interested in