VirTra Inc (VTSI)

[gemmerling]

GameCom turns to Ferris for VR base

Previously announced plans for US internet kiosk maker GameCom to acquire US virtual reality specialist Global VR have been terminated.
The companies remained guarded about the reasons behind the decision, revealing only that it was in shareholders' "best interests" to cancel a letter of intent issued in March (see March AB Europe).
Meanwhile, GameCom has bounced back from the set-back, announcing it will gain a foothold in the VR market by acquiring Ferris Productions.
The stock-for-stock deal will see GameCom's Kelly Jones remain as chairman and CEO while Bob Ferris, currently president at Ferris, will carry his title across to the combined group. Ferris will continue to operate in the amusement industry under its existing name, while a final decision on the merged company's corporate identity is to be decided.
Jones declined to expand on why GameCom switched from one virtual reality target to the next, stating only: "Ferris brings us a long, stable and broad revenue stream, significant immediate revenue, a large market share, deep management and a wide array of products".
Meanwhile, Global said it will pursue other avenues in its search for an investor, with plans to merge or go public by the year-end. In the interim, the firm is focusing on its new line of golf simulators, incorporating a strong licence, due for release in the latter half of the year.

http://www.ab-europe.co.uk/item.asp?ch=&type=News&id=12875

Greg