Immersive Interactive, a provider of VR software for the education and medical sectors, has been acquired for an undisclosed sum.
The provider has been taken over by Florida-based Echo Healthcare, which offers high-reality simulation solutions, and sees the exit of investor Mercia, which backed Immersive Interactive nearly 10 years ago.
Mercia has successfully quadrupled its investment, having utilised funding from the North West Fund for Venture Capital and the Northern Powerhouse Investment Fund.
David Salt and Chris Porter, Co-founders of Immersive Interactive, will take senior leadership positions within Echo following the acquisition, while Immersive becomes part of the global business, continuing in its original location.
Echo Healthcare and Immersive Interactive have immediately begun work on their shared vision for VR interactive simulation spaces.
Kevin King, CEO of Echo Healthcare, said: “The acquisition of Immersive Interactive is an important step in the evolution of our suite of product offerings, allowing increased market access, an enhanced team, and a further defined value proposition.”
Chris Porter, Co-founder of Immersive, added: “By joining two amazing companies together we will immediately realize gains in efficiency, access to resources, and roadmap acceleration.”