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The share price of AIM-listed VR firm Immotion (LON:IMMO) climbed by 21.71% to 7.85% (as of 16:30 BST) following the signing of a deal worth $500,000. Under the terms of the agreement, Immotion will produce three immersive VR experiences for an Amsterdam-based family entertainment specialist.
CEO Martin Higginson said: “iP2Entertainment are well recognised as being one of the leading players in the ‘out of home’ immersive entertainment space. Having the opportunity to work with them in the creation of some cutting-edge VR experiences will not only deliver valuable revenue for the studio but also help us further develop and showcase our skill set in this exciting market, whilst providing access to some exciting new content“.