OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Enters the $500 Billion Metaverse Market by Acquiring KurveXR from TakeLeap  

Rhea-AI Summary

ILUS International Inc (OTC: ILUS) has announced its acquisition of KurveXR from TakeLeap, enhancing its portfolio in public safety technology. This acquisition, which is ILUS's sixth in over a year, targets the rapidly growing Metaverse market, projected to exceed $1 trillion by 2025. With KurveXR's profitable software and intellectual property, ILUS anticipates generating $25 million in the next 24 months through existing contracts across seven countries. This strategic move aims to position ILUS as a leader in delivering virtual training solutions for emergency response and fire safety.

Positive

• Acquisition of KurveXR enhances ILUS's technology portfolio in public safety.
• KurveXR's profitable software licensing model expected to generate $25 million over 24 months.
• Expansion into the growing Metaverse market, projected to exceed $1 trillion by 2025.
• Existing contracts in seven countries provide immediate revenue potential.
• Plans to open a new office in Florida to support global expansion.

Negative

• None.

NEW YORK, NY, Feb. 04, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. In just over one year since new management took over ILUS, the company has already added its sixth strategically aligned acquisition to its stable. 

ILUS is acquiring KurveXR from TakeLeap, a futuristic technology company which creates artificial intelligence and machine learning solutions. KurveXR is the profitable and valuable Virtual and Augmented Reality division of TakeLeap, which ILUS is acquiring. The agreed acquisition develops and delivers training solutions for public safety including fire safety, emergency response, community safety, security, and corporate onboarding. As a company that began its life through the development of disruptive firefighting technology, ILUS is excited to continue this trend by now becoming the first company to offer fire safety training in the Metaverse. 

Through the acquisition of KurveXR, ILUS is expanding its reach into the Metaverse market which is growing at meteoric speed. Already valued at $500 billion, the global Metaverse market is currently expected to exceed $1 trillion by 2025. Such is the potential that Goldman Sachs recently referred to the Metaverse as an $8 trillion revenue opportunity. Also demonstrating exponential growth potential, the global Augmented Reality (AR) and Virtual Reality (VR) market is expected to reach $300 billion by 2024. In partnership with TakeLeap, ILUS had already been exploring this market potential in the Middle East through its acquisition, BCD Fire. Having witnessed firsthand how the technology will revolutionize public safety and security as well as the extraordinary revenue potential from its licensing models, ILUS made the decision to acquire KurveXR from TakeLeap. 

Nick Link, CEO of ILUS, said the following: “Following on from the recent acquisition of Vira Drones, we are now further advancing our disruptive technology with the addition of KurveXR to our portfolio. We have been working with TakeLeap for some time now, and it is exciting to acquire this perfectly aligned virtual and augmented reality division from them to drive forward our growth in the public safety and security arena. This is another acquisition which will rapidly expand and achieve an extraordinarily high valuation. We are entering the Metaverse and will be the first to offer lifesaving technology in this space.”

KurveXR is based out of Dubai, United Arab Emirates with a software development hub in Southeastern Europe. ILUS is acquiring a substantial wealth of software code and intellectual property. For example, KurveXR has already developed over 6,000 custom digital assets for its training software. Putting this into perspective, a single 3D digital asset can take up to 4 months to develop. ILUS expects to generate $25 million over the next 24 months through KurveXR’s profitable software licensing model, given that the company already has contracts in place in seven countries. KurveXR is already discussing several substantial contracts in Europe and Asia. ILUS is already focusing on expanding the agreed acquisition’s current customer base beyond the Middle East and Europe and will be opening an office for the company in Florida, USA early in the second quarter of 2022. ILUS will also be moving five key members of the KurveXR team to Florida from Dubai to ramp up its global expansion. The team members will include the company’s CEO, Sales Director, Lead Software Engineer, Marketing Manager and Technical Support Manager. Beyond this, ILUS expects to grow the US team, especially as the company is already in the process of developing solutions for several US headquartered customers.

KurveXR currently offerstwenty-two VR and AR training simulation software modules for fire safety, first aid and basic onboarding. These modules are designed according to local standards and can be purchased “off the shelf” by customers. The fire safety training module includes individual tutorials which teach learners about the common causes of fire, fire triangle, fire classification, types of fire extinguishers and how to use a fire extinguisher. Further tutorials include fire detecting equipment, firefighting equipment, fire alarm response protocol, evacuation protocol and incident reporting. In terms of the existing fire extinguishing training simulations, tutorials include training for the extinguishing of electrical fires, combustible material fires, kitchen fires and chemical storage fires. The first aid module includes tutorials for first aid information, emergency response protocols, CPR, external bleeding, internal bleeding, fractures, broken bones, burns, eye wounds, choking, incident reporting and finally, health and wellbeing. The software includes a dynamic dashboard for both individuals and management to monitor progress, results and download certifications. “Off the shelf” modules which can also be purchased via the company’s website, are currently in place for the following environments: corporate offices, manufacturing facilities (factories), retail outlets and hospitality facilities (hotels and resorts). The company also develops customized modules for HSE training (Health, Safety and Environmental) which many multi-national companies are required to provide to their staff. Bespoke VR and AR modules are developed for firefighting training, fire protection training, security awareness, security protocols, disaster preparedness, emergency response, COVID-19 testing and more. It is ILUS’ intention to rapidly expand the current product offering by rolling out a further twenty-five modules anddemocratize widespread access to potentially lifesaving VR and AR training. 

Organizations today are required to adhere to local, regional, and national health and safety regulations through the training and education of staff. It is essential for companies to empower their staff to maintain a safe working environment through the ability to protect themselves, their colleagues, and their company’s assets. Fire and Life safety training remains a key component of the regulated health and safety training requirement globally. Hotels, Schools, Hospitals, Restaurants, Airlines, Corporate Enterprises, Emergency Services and many more sectors are required to ensure that their staff complete fire and life safety training on an ongoing basis. Currently, this training is costly, time consuming and inefficient. It almost always requires a trainer or group of trainers to deliver the training in-person. 

The implementation of VR and AR training packages by companies means there is a minimal need for large numbers of learners to be divided into groups and training can be conducted much quicker. Learners receive additional benefit from experiencing real scenarios and threats to safety which often isn’t the case in a classroom environment. Standardization of the course curriculum is a key benefit of Virtual Reality training. Courses can obtain approval and certification from the relevant local authorities and therefore organizations deploying the training can have complete confidence that the approved training is being delivered repeatedly to the learners. The solutions can be customized by country so that the training program can be used globally by multi-national organizations across their chains, maximizing efficiency, reducing cost, and improving quality control. 

Additional advantages of the VR and AR training include maximum involvement and attention of the learners since the training is engaging and more enjoyable. The increased attention combined with the practical experience improves responses during real life situations. VR and AR Training speeds up the onboarding process for new staff and improves the level of practical knowledge retention within an organization. It reduces the need for large spaces to be used for training as it can be completed at home or in the boardroom. This reduces cost, schedule conflicts and even pollution. 

ILUS aims to play a leading role in the transformation of all five phases emergency management: prevention, mitigation, preparedness, response, and recovery. The acquisition of KurveXR is significant in that the technology can impact on all five phases. ILUS is progressing strongly with its strategy of acquiring manufacturing, distribution, and technology advancement companies. The company remains focused on its foundational fire and rescue business whilst also expanding into the wider public safety sector. 

John-Paul Backwell, Managing Director of ILUS, concluded with the following: “ILUS is entrenching its tentacles into the entire emergency response ecosystem. KurveXR’s technology aligns perfectly with our technology advancement strategy. KurveXR is the future of safety and security training. The foundation is firmly in place for this company to become one of ILUS’ most valuable assets. The intellectual property, written code, licenses, experienced development team, existing customers and a pioneering roadmap are just a few of the fundamentals that make KurveXR truly special. There will be more to come from us as we continue to bring more disruptive and complimentary technology into our fold.” 

For further information on the companies, please see their communication channels:

Website: https://ilus-group.com
Twitter: OTC_ILUS

Contact: 

Email: IR@Ilus-Group.com

Source: ILUS 

Related Links

https://ilus-group.com

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FAQ

What is the significance of ILUS's acquisition of KurveXR?

The acquisition of KurveXR positions ILUS as a leader in public safety technology, enhancing its training solutions in the rapidly growing Metaverse market.

What financial impact is expected from the KurveXR acquisition?

ILUS anticipates generating $25 million in revenue over the next 24 months through KurveXR's software licensing agreements.

How does KurveXR's technology contribute to ILUS's business?

KurveXR provides valuable virtual and augmented reality training solutions for fire safety and emergency response, aligning with ILUS's focus on public safety.

What are the projected growth opportunities from the acquisition?

The acquisition opens opportunities in the Metaverse, with a market expected to exceed $1 trillion by 2025, and potential contracts being discussed in Europe and Asia.