AR gaming studio, Bublar, has acquired the Swedish AR /VR company Vobling. Through the acquisition, Bublar Group and Vobling are aiming to strengthen their position in the B2B market and gaming portfolio.
The deal values Vobling at approximately $5.5 million 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 portfolio of characters owned by Japan-based Sanrio, will be released in 2019.
“The AR/VR market is growing rapidly. 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,” Bublar Group CEO Magnus Granqvist commented on the occassion.
Earlier Granquivist expressed that the game which they are developing will be for the ‘real-world’ games genre which will enable users to play with their smartphone devices while interacting with virtual characters connected to locations.
Vobling CEO Anders Ribbing said, “We are proud of the competent, profitable and fast-growing company we have built. 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 will become a subsidiary of Bublar and will act under the Vobling brand.