Mercia Asset Management PLC nDreams makes continuing commercial progress
16 Enero 2020 - 01:00AM
RNS Non-Regulatory
TIDMMERC
Mercia Asset Management PLC
16 January 2020
RNS REACH 16 January 2020
Mercia Asset Management PLC
("Mercia")
nDreams makes continuing commercial progress
Mercia Asset Management PLC (AIM: MERC), the proactive,
regionally focused specialist asset manager, is pleased to announce
that its direct portfolio company nDreams Limited ("nDreams") has
signed a contract with a leading global games publisher, to develop
content for the rapidly expanding location-based entertainment
("LBE") virtual reality ("VR") market.
This latest contract win follows the announcement in November
2019 of a major VR contract award with a leading global company,
and further underscores Mercia's confidence in nDreams as it
continues to consolidate its position at the forefront of global VR
game development and publishing.
The global LBE VR market is poised to grow by $1.5billion during
2019-2023, progressing at a CAGR of nearly 36% during the forecast
period, and predicted to make up c.11% of the VR industry(1) .
Mercia currently holds a 36.4% fully diluted stake in
nDreams.
Patrick O'Luanaigh, CEO and founder of nDreams, said: "We're
delighted with this new contract. This, along with the contracts we
signed last year and winning the Game Critics Award at E3,
demonstrates the confidence that the major players are showing in
nDreams as one of the highest quality VR studios in the world.
We're also increasingly excited about the growth of the VR market;
we're on track to double last year's revenue this financial year.
Furthermore, with headsets like the Oculus Quest and Valve Index
sold out for months ahead and multiple VR games now selling over
1million copies each, the VR market is growing extremely well."
Julian Viggars, Chief Investment Officer of Mercia Asset
Management PLC, said: "Alongside the growing home market, we are
now seeing growth within the LBE VR market, with many new VR games
and experiences appearing in arcades and shopping centres around
the world. nDreams has once again demonstrated the leadership
team's ability to identify new opportunities, including joint
solutions to drive growth, but importantly deliver both the
requisite high-quality content and fully immersive consumer
experience."
Ends
For further information, please contact:
Mercia Asset Management PLC
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial Officer
www.mercia.co.uk +44 (0)330 223 1430
Canaccord Genuity Limited (NOMAD and Joint
Broker) +44 (0)20 7523 8000
Simon Bridges, David Tyrrell
N+1 Singer (Joint Broker)
Harry Gooden, James Moat +44 (0)20 7496 3000
Buchanan +44 (0)20 7466 5000
Chris Lane, Vicky Hayns, Stephanie Watson
www.buchanan.uk.com
About Mercia Asset Management PLC
Mercia is a proactive, specialist asset manager focused on
supporting regional SMEs to achieve their growth aspirations.
Mercia provides capital across its four asset classes of balance
sheet, venture, private equity and debt capital; the Group's
'Complete Capital Solution'. The Group initially nurtures
businesses via its third-party funds under management, then over
time Mercia can provide further funding to the most promising
companies, by deploying direct investment follow-on capital from
its own balance sheet.
The Group has a strong UK regional footprint through its eight
offices, 19 university partnerships and extensive personal
networks, providing it with access to high-quality deal flow.
Mercia currently has c.GBP775million of assets under management
and, since its IPO in December 2014, has invested over GBP90million
across its direct investment portfolio.
Mercia Asset Management PLC is quoted on AIM with the epic
"MERC".
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END
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