November 28, 2017 12:25 ET
ProBility Media Corp. Enters Into Letter of Intent to Acquire VISYON, a Developer of Virtual & Augmented Reality Applications
Transaction Expands ProBility’s Capabilities into Industrial and Medical Training, Healthcare and Entertainment
HOUSTON, TX–(Marketwired – Nov 28, 2017) – ProBility Media Corp. (OTCQB: PBYA), an education and training technology company based in Houston, Texas, today announced the execution of a binding letter of intent to acquire VISYON, based in Barcelona, Spain. This combination will result in a fully integrated digital services company providing immersive technologies for education and training to several industry verticals, including industrial and medical training, healthcare and entertainment. The transaction is subject to the satisfaction of certain closing conditions including the execution of definitive documents and specified financial milestones. VISYON is an award winning digital services company empowering innovation through the use of emerging technologies to develop creative media solutions. Through the inventive application of virtual reality, augmented reality, and artificial intelligence, VISYON builds products and performs services for a multitude of enterprise customers. One of its lead products includes Telepport, the first VR streaming platform enabling two-way real-time communication, which offers vast opportunities in training, particularly for teams and remote presence. Another lead product, VROADCASTER, is a fully customizable platform for watching live and VOD events employing multiple camera feeds and several layers of dynamic data visualization and virtual environments which will greatly enhance the delivery of high quality training.
“We are incredibly excited to collaborate with VISYON’s expertise in merging digital media and film with innovation, which has propelled it to one of the leading providers of immersive product development and technological social innovation in Europe,” stated Evan Levine, Chairman and Chief Executive Officer of ProBility Media Corp. “For several years, VISYON has collaborated with leading universities and schools enabling students to learn faster and easier utilizing emerging technologies; supported health care by providing immersive experiences for patients with chronic medical conditions; raised awareness in environmental science by educating in the field of climate change; and, participated in hospitality by creating enjoyable simulated travel experiences. Together, the combination will leverage relationships, customers and technologies to build a formidable education and training technology company servicing a plethora of markets.”
“We look forward to joining forces with ProBility Media, and combining VISYON’s VR expertise with ProBility’s capabilities and market share in the training marketplace to create new innovative technological solutions,” stated Pere Perez, Chairman and Chief Executive Officer of VISYON. “ProBility’s base of over 40,000 customers will open up new opportunities to add to our existing customer base, some of which include Samsung, Royal Caribbean, Google, WSJ, Iberdrola, Alzheimer Research UK and the Government of Catalonia.”
For more information regarding the terms and conditions of the transaction, please refer to the forthcoming report on form 8-K filed today by ProBility with the Securities and Exchange Commission.
About ProBility Media Corp.
ProBility Media Corp. is an education and training technology company based in Houston, Texas, with offices in Florida, New York and Vermont. Through its divisions Brown Technical Media Corp., Brown Technical Publications Inc., Brown Book Shop, Inc., National Electrical Wholesale Providers, W Marketing, One Exam Prep, LLC, ProBility Safety Academy, ProBility Immersive Technologies, Cranbury International and its partnership with Globalsim Inc., ProBility is executing a disruptive strategy of defragmenting the training market place by offering high quality training courses and materials and preparing the workforce for excellence. ProBility services customers from the tradesman to the small business to the enterprise level corporation.
For more information, visit http://www.ProBilityMedia.com.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.