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GIGXR Announces Acquisition of Immersive Learning Group

December 18, 2019 GMT
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GIGXR Announces Acquisition of Immersive Learning Group
1 of 2
GIGXR Announces Acquisition of Immersive Learning Group

VENICE, Calif.--(BUSINESS WIRE)--Dec 18, 2019--

GIG XR, Inc., announced today that it has acquired global mixed reality and immersive learning assets from Pearson PLC, the worlds learning company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191218005230/en/

HoloPatient (Photo: Business Wire)

GIG XR provides a SaaS platform delivering extended reality (XR) learning applications for medical and nursing schools, higher education, healthcare and enterprise. The company was founded in 2019 for the purpose of acquiring the Pearson Immersive Learning Group’s holographic content management platform and suite of applications. It acquired the assets of the operating business, including the existing base of users, strategic partnerships and related intellectual property, while assuming the entire technical, creative and business team of employees working in the business.

The suite of offerings include flagship products HoloPatient and HoloHuman, leading applications for mixed reality that facilitate clinical skills practice and anatomy learning in medical and nursing schools, undergraduate institutions and hospitals. The applications operate on the newly released Microsoft Hololens 2 mixed reality headset.

“We’re thrilled to continue our partnership with GIG XR on the heels of our release of HoloLens 2, which has been incredibly well received,” said Dan Ayoub, General Manager for Mixed Reality Education at Microsoft. “Our collaboration with the GIG XR suite of applications and team of technology entrepreneurs and thought leaders will dramatically impact the way the world uses mixed reality solutions for enhanced learning now and into the future.”

The company will expand its SaaS Platform with a growing catalogue of medical, hard science, technical, healthcare and enterprise training applications that supplement curriculum for some of the most prevalent and intractable learning and education challenges. Enhanced learning through collaborative, engaging, transformative holographic 3D content in key disciplines with cost-effective extended reality tools significantly improves learning and reduces costs.

“The Pearson Immersive Learning group has been instrumental in driving research and pioneering technology for mixed reality learning,” said David King Lassman, CEO of GIG XR. “We’re thrilled to expand on their great work to grow the platform and suite of applications globally when demand for enhanced learning through immersive simulation has never been higher.”

Education technology is predicted to hit $252 USD billion by 2020 with XR accounting for $61 USD billion by 2022 while the global healthcare/medical simulation market is growing at a steady annual rate of over 14%.

GIG XR immerses true-to-life 3D simulations in a physical space that simplifies real-life complex scenarios, broadens the range and impact of learning and reduces costs for institutions, students and trainees. The company will continue to provide enhanced support for all current customers, who include Texas Tech University, University of Queensland, Bucks County Community College, University of Canberra, University of Leeds and other institutions within the United States, Australia, New Zealand and the United Kingdom.

The company is headquartered in Venice, CA. in the thriving Southern California technology ecosystem, and is led by a team of global thought leaders, executives and entrepreneurs hailing from the SaaS, EdTech, Venture Capital and AI industries. All Immersive Learning employees are being retained in the transaction. The UK-based team has relocated to new offices in London, with sales operations represented in the UK, Australasia and North America. GIG XR plans to expand its team globally throughout 2020.

For more information on GIG XR products or partnering, please visit www.gigxr.com.

About GIG XR

GIG XR is a SaaS platform delivering extended reality (XR) learning applications for medical and nursing schools, higher education, healthcare and enterprise globally. The platform’s applications and holographic content management system break through limitations of traditional learning resources, such as computer screens and books, by placing true-to-life 3D simulations in a collaborative physical space. Deepening the impact of learning, GIG XR simplifies complex real-life scenarios, reducing learning costs and improving outcomes for institutions, enterprises and students. GIG XR is headquartered in Venice, CA with current customers around the world in the US, Australia, New Zealand and the UK. To learn more about GIG XR visit www.gigxr.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191218005230/en/

CONTACT: Media Contact:

Lindsey Henn

Communications

mediarelations@gigxr.com

+1 626 893 4228Partnership Contact:

Mark Christian

EVP Strategy & Corporate Development

mark.christian@gigxr.comSales Contact:

Garry Putland

Vice President of Sales

garry.putland@gigxr.com

KEYWORD: CALIFORNIA AUSTRALIA/OCEANIA UNITED STATES UNITED KINGDOM NEW ZEALAND NORTH AMERICA AUSTRALIA EUROPE

INDUSTRY KEYWORD: EDUCATION HEALTH TECHNOLOGY OTHER HEALTH SOFTWARE UNIVERSITY

SOURCE: GIGXR, Inc.

Copyright Business Wire 2019.

PUB: 12/18/2019 10:00 AM/DISC: 12/18/2019 10:01 AM

http://www.businesswire.com/news/home/20191218005230/en