Sector 5 Digital Supplied 3D Manned Fighting Vehicle Digital Models for American Rheinmetall Vehicles, A Defense, Security and Auto Technology Provider

Rhea-AI Summary

The Glimpse Group (NASDAQ:VRAR) announced a significant mid-6-figure contract through its subsidiary Sector 5 Digital (S5D) for creating 3D digital marketing assets for American Rheinmetall Vehicles. The project involves developing immersive technology for the U.S. military's Optionally Manned Fighting Vehicle program. S5D delivered multiple 3D videos and marketing images to showcase the Lynx OMFV, assisting ARV's marketing efforts. The deal highlights Glimpse's growing influence in the defense sector through innovative digital solutions.

Positive

• Secured a mid-6-figure contract with American Rheinmetall Vehicles, enhancing revenue streams.
• Developed multiple 3D digital models, positioning itself as a key player in the defense sector.
• Showcased innovation in immersive technology tailored for military applications.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / December 5, 2022 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Virtual Reality ("VR") and Augmented Reality ("AR") platform company providing enterprise-focused VR and AR software and services solutions, today announced that its subsidiary Sector 5 Digital ("S5D"), a leading immersive technology company, completed a mid-6-figure contract for the creation of multiple 3D digital models for American Rheinmetall Vehicles (ARV), a part of Rheinmetall's Vehicle Systems division specializing in the development of combat vehicle platforms that provide next-generation products to the U.S. Department of Defense and Federal and State Law Enforcement agencies.

Leveraging its expertise in creating immersive technology for the aerospace and defense industries, S5D produced multiple 3D videos featuring Rheinmetall's proposed Lynx Optionally Manned Fighting Vehicle (OMFV), an infantry fighting vehicle, in a realistic multi-domain operation (MDO) scenario. The digital marketing pieces will help ARV promote the proposed vehicle, which has not yet been physically built. S5D created three marketing assets: an impactful, engaging, and immersive mission-vignette video, an informational fly-through video, and various key marketing images that showcased Team Lynx's OMFV offering.

ARV, along with their Team Lynx partners (Textron Systems, Raytheon Technologies, L3Harris Technologies, Allison Transmission, and GM Defense) are competing for the U.S. Army's Optionally Manned Fighting Vehicle program.

"We continue to see growing traction and adoption of our immersive technology capabilities within the aerospace and defense sector," commented Jeff Meisner, General Manager of S5D and Chief Revenue Officer of Glimpse. "Our team created a fully functional 3D model that accurately depicted the design and functionality of the proposed complex vehicle. Throughout the videos, we highlighted key capabilities and unique selling points ultimately resulting in an innovative and effective marketing experience for our partners."

About Sector 5 Digital

Sector 5 Digital helps companies transform their brands by creating brilliant digital content for marketing, communications, sales, entertainment, visualization and simulation. The company has an in-house studio developing immersive experiences through Virtual Reality (VR), Augmented Reality (AR), 3D modeling and animation, film & video production, interactive game technology, and a lot more. For more information on Sector 5 Digital, please visit www.sector5digital.com

About The Glimpse Group, Inc.

The Glimpse Group (NASDAQ:VRAR)(FSE:9DR) is a diversified Virtual and Augmented Reality platform company, comprised of multiple VR and AR software & services companies, and designed with the specific purpose of cultivating companies in the emerging VR/AR industry. Glimpse's unique business model simplifies challenges faced by VR/AR companies and creates a robust ecosystem, while simultaneously providing investors an opportunity to invest directly into the emerging VR/AR industry via a diversified platform. For more information on The Glimpse Group, please visit www.theglimpsegroup.com

Safe Harbor Statement

This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "view," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Sector 5 Digital Contact:

Jeff Meisner
General Manager
Sector 5 Digital
Chief Revenue Officer
The Glimpse Group, Inc.
jeff.meisner@sector5digital.com

Glimpse Contact:

Maydan Rothblum
CFO & COO
The Glimpse Group, Inc.
917-292-2685
maydan@theglimpsegroup.com

Investor Relations:

Mark Schwalenberg, CFA
Director
MZ Group - North America
312-261-6430
Glimpse@mzgroup.us
www.mzgroup.us

SOURCE: The Glimpse Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/729751/Sector-5-Digital-Supplied-3D-Manned-Fighting-Vehicle-Digital-Models-for-American-Rheinmetall-Vehicles-A-Defense-Security-and-Auto-Technology-Provider

FAQ

What is the recent contract announced by Glimpse Group (NASDAQ:VRAR)?

Glimpse Group announced a mid-6-figure contract through its subsidiary Sector 5 Digital to create 3D digital models for American Rheinmetall Vehicles.

How does the contract impact Glimpse Group (VRAR)?

The contract enhances Glimpse's revenue and showcases its capabilities in immersive technology for the defense sector.

What technologies are involved in the Glimpse Group's project for American Rheinmetall Vehicles?

The project involves creating 3D videos and marketing assets for the Lynx Optionally Manned Fighting Vehicle.

What are the implications of Glimpse Group's contract in the defense sector?

The contract indicates growing traction for Glimpse's immersive technology in the aerospace and defense industries.

Who is the main competitor for the U.S. Army's Optionally Manned Fighting Vehicle program?

American Rheinmetall Vehicles is competing for the contract along with its partners including Textron Systems and Raytheon Technologies.