Proactive Investors - Run By Investors For Investors

ServTech subsidiary Vection executes virtual reality technology agreement with Volvo

The agreement cements Vection as a leading global supplier of virtual and augmented reality technology to the automotive industry.
ServTech subsidiary Vection executes virtual reality technology agreement with Volvo
ServTech is a software development company with a global footprint

ServTech Global Holdings Ltd’s (ASX:SVT) wholly-owned subsidiary Vection Italy SRL has executed a framework collaboration agreement with global automotive manufacturer Volvo.

The initial one-year agreement entails Volvo adopting Vection’s proprietary virtual and augmented reality technology for marketing, automotive value chain, training and sales purposes.

It comes after Vection’s delivery of an interactive augmented reality experience for Volvo’s recent worldwide vehicle and safety campaign.


ServTech chairman Bert Mondello said the agreement validated ServTech’s strategic acquisition of Vection and its entry in the growing virtual and augmented reality software market segments.

He said: “The adoption by Volvo of Vection’s virtual reality technology is critical in the company’s positioning in the automotive industry and provides the company with significant global exposure.”

READ: ServTech to acquire virtual reality developer, eyes international growth opportunities

The first project under the agreement will showcase Volvo’s occupant protection and safety equipment through the implementation of Vection’s proprietary augmented reality overlay and holographic technology.

Volvo intends to incorporate Vection’s technology into other business verticals to market and create new and interactive consumer experiences.

“Part of the company’s broader global partnership strategy”

ServTech managing director Gianmarco Biagi said the framework agreement was the first executed by Vection among a number of ongoing negotiations.

Biagi said: “[It] forms part of the company’s broader global partnership strategy aimed at positioning Vection as the leading VR software provider for Tier 1 companies.

“This close collaboration with Volvo cements Vection’s positioning in the automotive industry, supporting Volvo in its growth and development strategy.”

View full SVT profile View Profile

Servtech Global Holdings Ltd Timeline

Related Articles

electric vehicle charging
May 13 2019
The junior company's RecycLiCo patented process represents a breakthrough in the recycling of lithium-ion batteries by providing high extraction of cathode materials such as lithium, cobalt, nickel and manganese at battery-grade purity
Restaurant diners
April 11 2019
The company's website and phone app aims to help restaurants fill spare capacity by offering discounts potential diners during quieter periods
electric vehicle charging
January 04 2019
AMP wants to add 25 sites in Greater London and extend its reach into the North-West around Liverpool and Manchester

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use