NexTech AR Provides Update on Acquisition of Work From Home (WFH) Virtual Events Webcasting Software Company Jolokia

NEW YORK and TORONTO, April 23, 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 update its shareholders on its binding LOI announced March 16th 2020 to acquire remote video training, live streaming software company Jolokia; whose customers include, Johnson & Johnson, Viacom, Toyota, CBS, Polycom and others. The Jolokia platform generated $1mill USD in SaaS revenue for 2019.

NexTech has been working with Jolokia on new business use cases and created the “InfernoAR” new product page on the NexTech website seen here: DEMO

• The company is currently finalizing the Share Purchase Agreement (SPA) and is now expecting a closing to occur in April.
• The company is also finalizing its Q1 2020 and expects to release Q1 numbers and have its first live dial-in conference call to discuss the numbers in the next few weeks.

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 - DEMO AR IN VIDEO LEARNING

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.”