MILAN, March 2 (Class Editori) -- The Italian-Californian company Mindesk will be acquired by Vection, a multinational specialized in software based in Perth (Australia) but whose operating office for Europe is located in Casalecchio di Reno, Bologna. Vection Technologies, listed on the Australian Stock Exchange (with its holding), is specialized in 3D and virtual reality.
The acquisition carried out by the CEO Gianmarco Biagi will allow to combine the technologies of both companies, so that designers can create products from scratch entirely based on virtual reality technology.
Mindesk, founded in Bari by the Italian Gabriele Sorrento, but also active in California, is the first exit of Barcamper Ventures, the fund of Primomiglio SGR, which had invested in the start-up together with HTC Vive, the virtual reality division of the Taiwanese leader in the mobile phone industry.
Vection will acquire Mindesk for 3.3 billion dollars. Thanks to this operation, Vection will gain some key institutional investors, including HTC Vive, A11-Venture and, of course, Primomiglio, which will become shareholders of Vection itself. Mindesk has already worked in partnership with outstanding computer companies, such as Logitech, Autodesk and Epic Games.
The market VR/AR is surging: according to analysts, it will grow from 4.5 billion U.S. dollars in 2017 to 200 billion U.S. dollars expected for 2026, with a CAGR higher than 50 percent. Last year, virtual reality hardware and software accounted for the majority of the market: 92 percent compared to 8 percent of the augmented reality sector – not only videogames – and more than the half of this market is made up by enterprise apps.
"We are glad to have had the opportunity to support Mindsek since the first days and to share the team enthusiasm for the possibilities which this acquisition has opened to Vection Technologies and its customers worldwide", as Pearly Chen- the Vice-president of HTC Business Development - has stated. "We strongly believe that the Virtual Reality will positively transform our way of working, collaborating and connecting with one another. It is great to see that the approach of Mindesk has been confirmed, namely accelerating the industrial productivity thanks to real-time technologies, and we cannot wait to support this journey as a new shareholder of Vection Technologies".
"The Mindesk acquisition has represented a significant acceleration in the CAD strategy development by Vection, which is aiming at making design projects significantly more accessible, both to specialists and not", as Gianmarco Biagi- the Managing Director of Vection Technologies- has explained, "Together, Vection and Mindesk can rely on a customer base represented by global companies such as Lamborghini, Ferretti Yachts and Volvo Italia, which lean on the best technologic partnerships such as Dassault SolidWorks, McNeel, Autodesk, Epic Games, HP, Logitech and Varjo".
Mindesk is a 3D design platform in real-time, which has been integrated with the CAD software available on the market, including McNeel Rhinoceros 6 and Grasshopper, Dassault SolidWorks 2018 and 2019 and Epic Games Unreal Engine Editor, in order to extend their functionalities to the third dimension: Augmented Reality, real-time rendering and multiuser collaboration. Mindsek is introducing the possibility to design from scratch a CAD project in virtual reality; while most CAD VR software available on the market are requiring an export of projects which may take some time, Mindesk enables users to switch from VR to desktop without interruption: the project's changes, in fact, occur in real-time on both platforms.
(Source:Class Editori)
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