Mercia investment in nDreams paying off
By Josh White
Date: Friday 20 May 2016
(ShareCast News) - Mercia Technologies announced on Friday that its portfolio company nDreams has been appointed by Google as one of the first developers alongside EA Games and Ubisoft to make apps and experiences for mobile virtual reality platform Daydream.
The AIM-traded firm, which says it focuses on the creation, funding and scaling of businesses with high growth potential, holds a 40% equity stake in nDreams.
It confirmed nDreams has two original titles in development for Daydream, with each built specifically for Google's new mobile VR platform.
nDreams previously saw success with its Perfect Beach title for the Google Cardboard platform.
"The nDreams appointment by Google is a clear demonstration of Mercia's success in investing and mentoring UK technology businesses," said Mercia CEO Dr Mark Payton.
"We congratulate the nDreams team and believe that the company has an exceptionally exciting future ahead, operating at the forefront of the VR content development market."
Payton said Mercia's strategy of combining market intelligence and significant sector experience helps it to identify and scale promising UK technology businesses such as nDreams.
"The investment in nDreams is led by investment director Mike Hayes, who has over 23 years of experience in interactive businesses including CEO for Europe and America of multinational games company SEGA and marketing director at Nintendo," he explained.
"This unique approach of investment and deep sector expertise like Mike's helps Mercia build opportunities such as nDreams towards the potential realisation of significant shareholder value."
nDreams CEO and founder Patrick O'Luanaigh said he is thrilled the company is one of the first studios to support Daydream.
"With this new platform's announcement, it's that much easier to envisage a time where everyone always has access to high quality mobile VR entertainment and it's exciting to be collaborating with Google on that ambition," he commented.
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