Bublar acquires Vobling for $5.6M, consolidates its VR/AR commercial offering.
The deal was made for approximately SEK 49.8M ($5.6M) in a combination of stock and cash. Through the acquisition, Bublar Group, together with Vobling, becomes the largest listed AR / VR company in the Nordic region, expanding its gaming development activities into the B2B market. The acquisition includes Vobling's subsidiary in Manila, Philippines, which becomes an important platform for strengthening production capacity for the development of current and upcoming gaming portfolios, including the AR-based Hello Kitty game expected to be launched in 2019.
Vobling, founded in 2015 by by Patrick Hansson and William Hamilton (both also involved in Mimerse), is a consulting company and studio providing the B2B market with AR/VR services, development in 3D, visualization and game engines. The company has 25 employees in offices in Stockholm and Manila and customers include SAAB, Tobii, Merck and SJ.
Vobling expects SEK 24M ($2.7M) in revenue and profits of SEK 7M.