From the Wires
EON Reality Forms IPO Committee and is Strengthening Management for NASDAQ Listing
EON Reality senior management met in New York City, May 15th-18th with multiple Investor Banks to kick start the IPO process
By: Marketwired .
May. 19, 2017 01:07 PM
IRVINE, CA--(Marketwired - May 19, 2017) - EON Reality Inc., the world leader in Augmented and Virtual Reality based knowledge transfer for industry and education, announces the formation of an internal IPO Committee and is strengthening its management in order to be publicly listed on NASDAQ. Today, EON Reality is the global leader in Augmented and Virtual Reality knowledge transfer via its Enterprise grade AVR platform, its global AVR development and distribution network, and a high-growth, profitable software as a service business model. The growth in demand for Enterprise Augmented and Virtual Reality (AVR) solutions has created a large market opportunity for EON Reality.
An IPO will enable EON Reality to further develop its best in class AVR Platform for both Enterprise and Education, build out its aggressive technology roadmap that seeks to link man and machine through AVR, and expand its global network. EON Reality has secured additional shareholders and advisory board members with extensive financial resources and networks. Key shareholders have approved for the company to begin the IPO process.
The IPO Committee is comprised of several EON Reality Advisory Board members and senior management and chaired by Francis Galbally. The members of this committee have experience in digital media, finance, real estate, ICT, and many more areas that are central to EON Reality's AVR strategy. This committee will help guide the process to select partners and management personnel that will maximize EON Reality's market leadership and its position as a AR and VR company with a profitable business.
"We believe this is an important step for our company to start the process of going public," said Francis Galbally, Chairman of EON Reality IPO Committee and EON Board Member. "EON Reality is one of the few AR or VR companies with strong revenue and profit, a solid business model, global market leadership, and the world's leading AVR platform. This sets the stage for us to have a very robust public offering."
"An IPO will provide us with access to additional capital to fuel growth and accelerate EON AVR platform development towards our EON Human 2.0 vision," said Dan Lejerskar, Chairman of EON Reality. "We see AR and VR helping humanity cope with the increasing knowledge demands of the modern world leading to the early augmented human (Human 2.0) which blends man and machine allowing us to grow beyond human constraints while democratizing access to knowledge. In this context, access to capital will also enable us to conduct strategic acquisitions and fuel EON's AVR knowledge injection solution with the latest in Artificial Intelligence and IOT technologies."
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