Vividthree Holdings Amplifies Growth with an Investment in Award-Winning Technology Pioneer XMI Group
- XMI Group Pte Ltd’s Over The Top (“OTT”) Streaming platform is an alternative for content and music with gamified elements, providing an immersive experience for users
- Gateway to introduce Vividthree’s Virtual Reality (“VR”) production via the OTT Streaming platform
- Vividthree to subscribe up to S$1.5 million Convertible Notes in XMI
Vividthree Holdings Ltd. (SGX: OMK), a virtual reality, visual effects and computer generated imagery production studio (“Vividthree”, the “Company” or the “Group”) today announced its subscription of up to S$1.5 million Convertible Notes in XMI Group Pte Ltd (“XMI”) (the “Vendor”), which can be converted into shares in the capital of XMI.
Through Vividthree’s investment into this content streaming company – XMI, it is envisioned that XMI’s OTT Streaming platform will encourage the rise of VR entertainment at home, allowing Vividthree to consolidate its long-term interest in aggregating and distributing high-quality VR content to consumers worldwide.
The investment is likely to prepare the Group for the arrival of 5G network, as it leverages on this technology breakthrough to create Nextertainment (Next Generation of Entertainment) – fresh experiences in media consumption that allow consumers real time interaction with high quality immersive media with no latency, anywhere and anytime.
Managing Director of Vividthree, Mr Charles Yeo commented, “The investment in XMI is in line with our growth plans and has strategically placed ourselves in a better position to expand our business at a faster pace and fortify our presence in the technology sector. As a regional forerunner of content creation in immersive media, we want to create Nextertainment with the arrival of the upcoming 5G network. We will continue to fuel our growth with organic and inorganic strategies as we explore further synergies with potential technology and media-related companies.”