Serious Labs Sells Its Virtual Reality Simulator Division to SIMS

Serious Labs, a company specializing in virtual reality (VR) simulators and training, has announced the sale of its Serious Industrial Motion Simulators (SIMS) division to simulation specialist SIMS from the USA. The transaction was conducted without disclosing financial details.

SIMS will become the owner of assets, employees, simulator equipment, and subscription revenue generated by Software as a Service (SaaS).

Assets related to Serious Labs’ MELT VR commercial vehicle project are not included in this transaction.

Serious Labs announced that the transaction met with unanimous approval from shareholders at the Special Shareholders’ Meeting and was also supported by secured lenders.

Terry Alle, President and CEO of SIMS, said: “At SIMS, we appreciate the value of using simulators for safe, efficient, and cost-effective training of a new generation of industrial equipment operators, especially in high-risk operations such as aircraft and industrial facility maintenance. We are impressed with Serious Labs’ technology and team, and we are excited to collaborate with clients to strengthen our customer service and continuous innovations.”

Lyle Edwards, Chairman of Serious Labs, added: “This transaction with SIMS will allow us to focus on continuous innovations and customer success within the Industrial Division, giving Serious Labs the opportunity to identify strategic partners for the MELT VR commercial vehicle project.”

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