VirTra Systems Sells Theme Park Operations

This article comes from Highwaygames.com

VirTra Systems, Inc. recently announced that it has sold its VR Zone™ theme park operations to Global VR of San Jose, California. "Our VR Zone™ concept has served the company extremely well, but now is the appropriate time to exit this market segment and extend our evolution toward larger and more lucrative markets," stated L. Kelly Jones, VirTra Systems' chief executive officer. "Our technological advances and insertion into the training/simulation market has caused a broadening of our opportunities, making this the perfect opportunity for a strengthening of the company's focus."

Terms of the transaction have Global VR purchasing the theme park locations, the company's virtual reality arcade equipment, and assuming certain obligations relating to the theme park operations. VirTra Systems will continue to provide technical support and parts for the purchased equipment.

"None of the company's current, leading-edge technology in virtual reality promotional or training applications will be included," noted Bob Ferris, VirTra Systems' president. "While our virtual reality gaming technology was the seed for our IVR™ product line, all of our recent technological advances stay with VirTra Systems."

The highly-successful VR Zone™ concept provided the initial implementation and subsequent evolution of VirTra Systems' diverse virtual reality technologies into solid, durable products with the ability to withstand high-traffic usage in a variety of conditions.

"This strengthening of corporate focus will enable VirTra Systems to expand our presence in the advertising/promotion market for custom virtual reality solutions, and is calculated to accelerate our entry into the training/simulation market with the company's recently-announced IVR™ product line," Jones concluded.