REDONDO BEACH, CA / ACCESSWIRE / October 29, 2015 / Next Galaxy Corp. (OTC Pink: NXGA) may only be a $5.5 million company, but it has been making a big name for itself in the virtual reality industry. While Facebook Inc. (NASDAQ: FB), Samsung Electronics Co., Ltd. (OTC: SSNLF) and others have been focused on building virtual reality hardware, the company has been laser-focused on building the industry's premier content platform capable of integrating with all of them.
Over the past two years, the company has been working closely with EON Reality Inc. - a privately-held company with 800 developers in 11 locations worldwide - to build out its CEEK Platform. The two companies formalized their relationship on October 20th to leverage each other's technology, business contacts, and client base to unlock value, which is significant given EON's leadership position in an industry expected to reach $35 billion in size by 2022.
"Having been a partner with NGC for the past two years, we are proud of having been chosen as a technology and business partner for this ground breaking application that will change the way VR social media and VR events are produced and distributed," said EON Reality CEO Mats W. Johansson. "We are also excited about the online business potential this application has for both NGC and EON Reality."
EON's Expertise
EON Reality has been working in virtual reality since 1999 and has become a market leader with over 800 developers and 11 locations worldwide.
The company's EON Experience platform consists of multiple content creation tools that enable users to create virtual reality applications that can interface with a variety of add-ons and software products that extend their functionality to multi-user environments and user assessment. Through its online marketplace, the technology also provides digital distribution to virtual reality users as hardware becomes more widespread.
In addition to its software platform, the company provides hardware solutions designed for virtual reality applications. Its EON Idesk, for instance, provides a complete, interactive virtual reality desktop solution designed to accelerate and improve the way people learn, teach, and communicate, while the EON Ibench Mobile is a table top version of the same technology that lets users interact with virtual objects in ways not possible with 2D displays.
CEEK Platform
Next Galaxy's CEEK Platform promises to bring virtual reality experiences to both enterprise customers and everyday consumers.
On an enterprise level, the company has targeted healthcare and education opportunities with a hardware-agnostic solution that has generated tangible contracts and millions of dollars of potential revenue. The agreement with VR HealthNet to deploy virtual reality training solutions into the healthcare industry represents the first of these ventures, while the company sees a number of other enterprise markets that are ripe for the picking.
Entertainment represents a larger - but longer term - subset of the virtual reality market that the company plans on targeting with its CEEK Platform. With the potential to make movies, games, concerts, and other types of entertainment more engaging, the company aims to become a leading provider of this entertainment content that's compatible with devices ranging from the Oculus Rift to Google's Cardboard goggles.
Collaborative Endeavors
Next Galaxy and EON Reality will be collaborating on a number of projects over the coming quarters that leverage their respective strengths.
The expanded partnership between Next Galaxy and EON Reality will open up global distribution through EON's IDC network as well as regional content from areas as diverse as Africa, APAC, Europe, the Middle East, and South America. When producing content on its platform, these new distribution channels could drive user growth on the CEEK platform, while enabling publishers to reach a growing international audience.
Looking Ahead
Next Galaxy's new partnership with EON Reality marks a key milestone for its business and investors given EON's sizable reach within the industry. With numerous projects in the pipeline, the partnership could generate significant long-term value for shareholders, and makes the stock worth a second look for those interested in the virtual reality space.
For more information, visit the company's website at www.nextgalaxy.com.
Legal Disclaimer:
Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://secfilings.com/Disclaimer.aspx.
SOURCE: Emerging Growth LLC
