Bublar Group (BUBL MTF), a publicly listed Augmented Reality (AR) gaming studio, has acquired the Swedish AR/VR company Vobling with offices in Stockholmand Manila, Philippines. Through the acquisition, Bublar Group and Vobling become the largest publicly listed AR/VR solutions company in the Nordic region, strengthening their position in the B2B market.
“The AR/VR market is growing rapidly,” says Magnus Granqvist, CEO of Bublar Group. “Through this acquisition, we strengthen our gaming studio with state-of-the art knowledge, production resources and the ability to capture opportunities from the corporate market. Together, we will work towards the goal of becoming the leading AR/VR company in Europe.”
The deal values Vobling at approximately $5.5M in a combination of stock and cash. The expanded team will strengthen production capacity for the companies’ corporate customers and gaming portfolio, including the AR-based Hello Kitty game. The anticipated game, based on the popular portfolio of characters owned by Japan-based Sanrio, will be released in 2019.
“We are proud of the competent, profitable and fast-growing company we have built,” says Anders Ribbing, CEO of Vobling. “The industry is now on the cusp of major breakthroughs in AR/VR technology, evidenced by growing demand for our products and services. The synergies with Bublar will serve to increase our joint potential.”
As part of the acquisition terms, Vobling becomes a subsidiary of Bublar and will act under the Vobling brand. To date, Vobling has completed projects within education, gaming and entertainment, marketing, real estate and transportation based on AR/VR and NUI (Natural User Interfaces).