Vobling acquires its competitor, RayVR, strengthens its AR and VR capabilities.

Sweden M&A 08 February 2018
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RayVR, a Stockholm, Sweden-based company providing augmented reality (AR) and virtual reality (VR) products and services, announced getting into an agreement to sell the company to Vobling, a similar local company.

The financial details of the transaction remain undisclosed.

RayVR, launched in September 2016 by Anders Ribbing, Cecilia Beck-Friis and Per Åström, provides VR/AR products and services including a white label VR app sold on a subscription model, and Rayvr Studio, which encompasses the company's VR knowledge sold as a service to its clients. Customers list includes SJ, Academedia and Thomas Cook Northern Europe (Ving).

Vobling, founded in 2015 by by Patrick Hansson and William Hamilton (both also involved in Mimerse), is a consulting company and studio providing AR and VR services. The company has 20 employees in Stockholm and Manilla, and has done over 40 projects on behalf of clients such as Tobii, NetEnt and SAAB.

Vobling is profitable, accounting more than SEK 1M in profits at a SEK 6.4M ($800k) turnover for 2016.