Virtual reality company Virtualware goes public on Euronext Paris

PARIS, April 20, 2023 (GLOBE NEWSWIRE) -- Spanish technology company Virtualware has debuted today on the Paris stock exchange with a valuation of more than 27 million euros and at a price of six euros per share.

The shares of the company, founded in 2004, which today develops virtual reality solutions for major industrial, educational and healthcare conglomerates, will now be listed on the Access segment of Euronext Paris.

The listing ceremony took place this morning at an event held at the Euronext building in La Defense in Paris, and was presided by the company's two founders, CEO Unai Extremo and CTO Sergio Barrera.

Representing Euronext was Pablo Pérez-Orive, listing manager for Euronext in Spain.

The company, which last year recorded sales of more than 3.2 million euros and a net profit of more than 400,000 euros, has offices in Bilbao, Spain, and Hamilton, Canada, and has worked throughout its history on more than 500 projects in more than 33 countries.

As Unai Extremo explained after the bell-ringing, "Virtualware's listing marks a turning point after 20 years of hard work and dedication, consolidating our success so far and setting a solid path for the future," said Unai Extremo, CEO of Virtualware. "This achievement underscores the strength of our company and positions us to take advantage of even more growth and expansion opportunities in the years to come."

The listing represents more than two years of work, with the participation of a large part of the almost 50 employees of the corporation. British firm Pedrosa acted as IPO coordinator, while Solventis participated as listing sponsor and Banc Sabadell was the agent bank. Virtualware shares will be traded in the fixing mode, with execution two days after the crossing of each purchase and sale transaction.

Euronext is the pan-European stock exchange that groups together the stock exchanges of Paris, Amsterdam, Brussels, Oslo, Milan and Dublin.

Virtualware’s flagship product VIROO, the world’s pioneering VR as a Service (VRaaS) platform, makes Virtual Reality accessible to companies and institutions of all sizes and sectors.

VIROO is an all-in-one digital solution that enables the development and deployment of multi-user Virtual Reality applications remotely and is already used by more than 40 companies and institutions worldwide, including GE Hitachi, Ontario Power Generation, Gestamp, ADIF, the Spanish Ministry of Defense, El Retoño Technological University, and EAN University.

VIROO aims to become the standard for developing industrial and educational Virtual Reality applications worldwide.

DISCLAIMER
This press release contains statements regarding the future of Virtualware 2007 S.A. and its innovations. Statements regarding the future may be accompanied by words such as "anticipate," "believe," "estimate," "wait," "anticipate," "pretend," "power," "plan," "potential," the use of future time and other terms of similar meaning. You don't need to put any undue reliance on these claims. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including uncertainty of the company's commercial success, ability to protect our intellectual property rights, and other risks. These statements are based on current beliefs and forecasts and refer only to the date of this press release. The company assumes no obligation to publicly update its forward-looking statements, regardless of whether new information, future events or any other circumstance arise.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/225f9d6a-500e-4ace-939f-549374f53544

Contact details:
Pedrosa IR
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