News

Virtual reality vendor sells theme-park biz

May 7, 2003

ARLINGTON, Texas -- VirTra Systems Inc. has sold itsVR Zone theme-park operations to Global VR of San Jose, Calif., in order to focus on the advertising and promotion market for virtual reality.

"Now is the appropriate time to exit this market segment and extend toward larger and more lucrative markets," said L. Kelly Jones, VirTra chief executive officer. "Our technological advances in the training/simulation market has caused a broadening of our opportunities, making this the perfect opportunity for strengthening the company's focus."

Global VR has purchased the theme-park locations, the company's virtual reality arcade equipment, and has assumed certain obligations relating to the theme-park operations. VirTra will continue to provide technical support and parts for the purchased equipment.

Global VR manufactures coin-operated virtual-reality video arcade games based on PC gaming technology. Terms of the deal were not disclosed.

"None of the company's technology in virtual reality promotional or training applications will be included," said Bob Ferris, VirTra 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."

VirTra's immersive virtual reality systems provide 360-degree, interactive photorealistic environments to commercial and governmental agencies. The products include the sensations of motion, touch, sound and smell. See related story, "VirTra releases second-quarter numbers."