Australian software specialist ServTech Global Holdings is planning to build out its value-added reseller network in Asia Pacific, Europe and North America, as it transitions into a fully-fledged virtual reality (VR) and augmented reality (AR) player.
The move comes as the publicly-listed company, which has made a name for itself as a provider of enterprise software solutions and services prepares to change its name to Vection Technologies Ltd — with a new Australian Securities Exchange (ASX) ticker to boot: ASX:VR1.
ServTech acquired Italian AR and VR software development provider Officine 8K SRL in April, renaming the company Vection and appointing the Italian organisation’s management team members Gianmarco Biagi and Lorenzo Biagias as managing director and executive director and chief sales officer, respectively.
The business now known as Vection claims Volvo, Lambhorgini and Maserati among its AR and VR solutions customers.
Now, the company plans to expand its Vection value-added reseller network in Northern Europe, Canada and the US and Asia Pacific within the next 12 months.
The reseller network expansion is part of a broader strategic transformation for ServTech. Since the acquisition of Vection in April 2019, the Company has restructured its operations to best service its global tier 1 clients and international distribution partners via two distinct divisions.
These include Vection Consulting, which supports industrial innovation by partnering with clients in the provision of bespoke software solutions in 3D, VR and AR technologies, and Vection Solutions, which develops off-the-shelf 3D, VR and AR software products.
With the Vection management team on board, ServTech’s mission, strategy and product portfolio have been redefined, transforming ServTech into a 3D, VR and AR software company with a particular focus on industrial applications.
In October, the company announced the impending launch of an immersive VR design platform, dubbed ‘FrameS’. The FrameS commercial launch is seen as the first step in the company’s strategy to build a global subscription-based software-as-a-service (SaaS) business model.
The new name and ASX ticker code, according to ServTech, “best exemplify the strategic direction of the company moving forward”.
“The company’s strategic direction follows on from the results achieved by management during the first six months post the acquisition of Vection,” said Biagi. “The strong adoption of 3D, VR and AR technologies in the global market-place and in the context of the Industry 4.0 initiatives underpins our strategy moving forward.
“Vection has a VR platform which has been customised successfully for some of the world’s most recognised manufacturers.
“The stepchange for our company is taking this proven platform and providing it widely to all manufacturers as a SaaS platform. This platform: 'FrameS' is set for commercial launch at the end of November 2019,” Biagi said.