Vancouver - NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events, is pleased to announce that it has acquired fastgrowing eCommerce software platform Next Level Ninjas.
Next Level Ninjas matches brands and product testers on it's VIP Product Testers site, helping brands gain business momentum. The platform works across multiple eCommerce platforms including Amazon, eBay, Shopify, Walmart, Jet and Etsy. It services nine Amazon marketplaces: US, CA, JP, AU and five EU marketplaces: UK, DE, FR, IT, ES.
By acquiring this Amazon eCommerce launch platform NexTech is now able to tie together its augmented reality (AR) offerings for eCommerce into one offering, creating a complete AR eCommerce ecosystem. The Next Level Ninja platform appeals to millions of eCommerce brands looking to gain business momentum on Amazon, eBay, Shopify, Walmart, Jet and Etsy. The company plans on integrating into the platform both it's WebAR and its 3D/AR ad network, creating an AR technology-driven one-stop-shop. This acquisition represents the company's sixth acquisition since 2019 and the company's second in 2020.
Established in 2019, Next Level Ninjas has experienced both dramatic organic growth and an attractive gross profit margin of 85%. In the month of August alone the business generated $40,000 in operating profit, implying a projected 12-month profit run rate of $480,000, which assumes zero growth post acquisition. The acquisition is an all cash asset purchase agreement with a purchase price of $720,000. The company is working with its marketing team to drive significant growth in the coming year as more and more businesses move online and sell goods on Amazon, eBay, Shopify, Walmart, Jet and Etsy.
About NexTech AR
NexTech is one of the leaders in the rapidly growing Augmented Reality market estimated to grow from USD $10.7B in 2019 and projected to reach USD $72.7B by 2024 according to Markets & Markets Research; it is expected to grow at a CAGR of 46.6% from 2019 to 2024.
Contact:
Evan Gappelberg
Email: info@nextechar.com
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NEXTECH AR SOLUTIONS 
