Virtual reality is fast becoming another beneficiary of the coronavirus
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Overnight the entire country of Italy was placed into a lockdown but Vection Technologies (ASX:VR1) says operations are progressing strongly — and it may even benefit.
The coronavirus has resulted in millions of people globally working from home. Bloomberg declared earlier this month this was “the world’s largest work from home experiment in history.”
Virtual reality play Vection is better known for its work in specific industries, like helping people customise their cars before they buy.
But the company says its FrameS software can help people collaborate remotely. It is this week launching a promotion to obtain new clients.
Businesses managing remote teams that come on as new clients get an extended two-month free trial.
Vection managing director Gianmarco Biagi said Vection was committed to ensuring clients could carry on during these challenging times.
“We believe that the use of real-time technologies such as virtual and augmented reality have the potential to ensure collaboration between people staying at home,” he said.
Despite the global situation worsening and Vection’s European base Italy being in lockdown, the company says it remains fully operational. Only last week it acquired a fellow virtual reality company, Mindesk, which is targeted toward architects and engineers.
“Our operations are continuing despite the emergency, with all necessary precautions,” Biagi said.
Shares were unchanged this morning. However, they are still ahead of where they were 12 months ago despite the ASX officially entering a bear market this morning.
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