DGAP-News

asknet Solutions AG welcomes Digital Domain as new investor and strategic partner

DGAP-News: asknet Solutions AG / Key word(s): Alliance/Investment asknet Solutions AG welcomes Digital Domain as new investor and strategic partner 22.02.2021 / 10:00 The issuer is solely responsible for the content of this announcement. asknet Solutions AG welcomes Digital Domain as new investor and strategic partner Karlsruhe, February 22, 2021 - asknet Solutions AG and Digital Domain Holdings Limited, a Hong Kong listed company (547: HKG) and a global market leader in visual effects, digital humans, virtual reality and virtual production, have defined the key aspects of their strategic partnership. As recently announced, the Hollywood VFX pioneer, Digital Domain, has acquired a 19% stake in asknet Solutions AG via its subsidiary, Digital Domain Capital Partners.

The key rationale behind this partnership is for Digital Domain Holding Limited to obtain access to the European Ed-Tech market, developing and selling educational products and technologies in close cooperation with asknet Solutions AG, and for asknet Solutions AG to benefit from the additional earnings potential.

asknet CEO, Christian Herkel, sees a great potential in this new partnership: "The combination of Digital Domain's groundbreaking technology and our position in the German EdTech market will have a real impact. The current status of home and distance learning clearly shows that the German education sector is ready for a more engaging and entertainment-based approach."

Daniel Seah, CEO of Digital Domain Holdings Limited, adds: "The COVID-19 crisis has shown that significant gaps still exist in the e-learning space. The digitization of education is here to stay and holds enormous growth potential. Now is the perfect moment and EdTech is the ideal space for Digital Domain to bring its unique offering to the European market. One of the numerous opportunities this new partnership bears is the introduction of virtual humans into the sphere of education."

"We will bring Hollywood technology to the educational space in Germany to fill this gap in the e-learning market. The application of artificial intelligence and virtual human technology will help to break the limitation of time and space. It will make teaching more visual, and will create a high concentration learning environment. Imagine your favorite movie character teaching kids English. The real-time teaching interaction with students through virtual human technology will greatly improve students' attention and interest in learning, especially in demanding times like this", stated Daniel Seah.