Virtualware to be Listed on the Paris Stock Exchange

BILBAO, Spain, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Spanish technology company Virtualware, one of the European leaders in the virtual reality industry, will be listed on the Paris Stock Exchange in the coming weeks.

To this end, it has already filed the corresponding application with Euronext, the pan-European stock exchange that groups together the stock exchanges of Paris, Amsterdam, Brussels, Oslo, Milan, and Dublin.

Virtualware, founded in 2004, is one of the pioneering companies in the field of Virtual Reality, where its team of more than 50 people has already developed more than 500 projects in more than 33 countries. It is headquartered in Bilbao, Spain, and has a North American office in Hamilton (Canada).

For the last decade and a half, it has been developing immersive solutions oriented to the industrial world and counts among its client base multinationals and institutions such as GE Hitachi, Ontario Power Generation, Petronas, Iberdrola, Alstom, Guardian Glass, Gestamp, Danone, Johnson & Johnson, Biogen, Bayer, ADIF, the Spanish Ministry of Defense, El Retoño Technical University or EAN University, to name a few.

Following approval by Euronext, the IPO will take place in the Access segment and follows a year and a half of preparation.

Virtualware's CEO, Unai Extremo, explained that "this is an important step in our path towards the growth and global expansion of our company, especially in the US and European markets. The IPO will strengthen our global position, increase our visibility and add a wider community of stakeholders to our mission."

At the end of 2021, the company, whose majority partners are its CEO Unai Extremo and Sergio Barrera, its CTO or chief technology officer, was recognized as the world's most innovative company at the VR Awards 14 months ago.

Its product VIROO, the world's pioneering VR as a Service (VRaaS) platform, makes Virtual Reality accessible to companies of all sizes and sectors. It is an all-in-one digital solution that enables the development and deployment of multi-user Virtual Reality applications remotely.

VIROO has received a patent in the United States and was named the best enterprise Virtual Reality solution at the VR Awards in 2019. The platform is already used by companies worldwide and has been used to develop strategic projects for defense ministries or critical infrastructure training projects. VIROO aims to become the standard for developing industrial Virtual Reality applications worldwide.

Virtualware also participates in Evolv, a medical and digital health device manufacturer specializing in developing rehabilitation solutions based on immersive technologies.

According to the annual report published by the company at the end of 2022, the company received ISO 27001 certification in recent months, signed contracts with leading international organizations, such as Ontario Power Generation, Gestamp, Janssen, Invest WindsorEssex and the University of El Salvador, and began participating in events jointly with Microsoft in the United States.

The company will announce the exact listing date and valuation in the coming weeks.


Photo of Unai Extremo, CEO

Photo of the VIROO room in operation:



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