NexTech AR To Acquire Work-At-Home Remote Virtual Events Webcasting Software Company

Coronavirus Driving Demand For Work-at-home Video Conferencing Software

NEW YORK and TORONTO, March 16, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), the leader in augmented reality for eCommerce and AR learning applications, is pleased to announce that it has signed a binding LOI to acquire remote video training, live streaming software company Jolokia; whose customers include, Merck, Toyota CBS, Polycom and others.  The Jolokia platform generated $1mill USD in SaaS revenue for 2019.

The transaction will be an all stock purchase with an initial payment upon closing of 1 million shares in restricted stock priced at $1 USD ($1.38 CAD) with a 12 month earn out if certain revenue milestones are hit of an additional $4mill in restricted stock. The company is currently conducting its due diligence with an expectation of a closing in the next few.

With corporate meetings and events going virtual through online collaboration and web conferencing tools, NexTech has developed a method to seamlessly integrate 3D photo realistic holograms of people and products to these virtual events through its ARitize App. Whether you need to host a full-featured conference, a keynote for a major product announcement, a virtual booth to welcome your partners, investors, and advocates, or remote training sessions, NexTech is able to help you reach the heart of your audience, with our unique AR touch. 

Try our demonstration video - Click here.
https://vimeo.com/397460871#t=20s

Pete Mastin, CEO of Jolokia comments, “With the integration of NexTech’s augmented reality holograms, our Inferno platform is well positioned as the world's most advanced Video Learning Experience Platform (LXP).  Combining live broadcasting with Interactive Video, Artificial Intelligence and Holograms, corporations are now able to rapidly deliver immersive, engaging learning experiences anywhere.” He continues, “We are very excited to merge with NexTech AR as we believe the combination of our Inferno Platform with NexTech’s formidable tech stack will create a new generation of Learning & Development products that will gamify the learning experience in a way that has not been seen before.”