Nextech (CSE: NTAR) (NEO: NTAR) (OTCQB: NEXCF) (FSE: N29), an emerging leader in augmented reality (“AR”) for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events, today announced its entry into a definitive agreement under which it will acquire U.K.-based spatial computing company ARWAY Ltd. (“ARway”) in an all-stock transaction and hire the key founders Baran Korkmaz and Nikhil Sawlani. According to the update, this acquisition provides Nextech with a spatial mapping platform critical to building the metaverse. “Creating the metaverse is the most ambitious thing we can accomplish as an augmented reality company, and now with the ARway platform plus Baran and Nikhil joining the Nextech team, we are positioned to do just that,” said Evan Gappelberg, CEO of Nextech AR Solutions. “The potential for Nextech to be first to market with mini-metaverses, spatial maps as NFTs in the metaverse and leveraging our creator platform HoloX to populate the metaverse with content at scale is super exciting to me. With our global sales and marketing machine, our combined AI teams and our existing AR tech and resources as a public company, I’m convinced that we will quickly take a leadership position in the AR metaverse!”
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About Nextech AR Solutions Corp.
Nextech develops and operates augmented reality (“AR”) platforms that transport three-dimensional (“3D”) product visualizations, human holograms and 360° portals to its audiences, altering e-commerce, digital advertising, hybrid virtual events (events held in a digital format blended with in-person attendance), as well as learning and training experiences. Nextech focuses on developing AR solutions; however, most of the company’s revenues are currently derived from three ecommerce platforms, VacuumCleanerMarket.com (“VCM”), InfinitePetLife.com (“IPL”) and TruLyfeSupplements.com (“TruLyfe”), as well as VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. For more information about the company, visit www.NextechAR.com.
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