Vection Technologies Ltd. announced the execution of an Original Equipment Manufacturer (OEM) agreement with multinational technology company HP Inc. (HP). The OEM collaboration will play a critical role in the delivery of Virtual Reality (VR) Integrated solutions (HP's VR hardware and Vection's VR Software) in over 170 countries via HP's global network. This agreement follows on from the entry of Vection's Mindesk in the HP Independent Software Vendor Partner Program: Virtual Reality Track during August 2019.

Although the financial impact of this agreement is not determinable at this time, with direct revenue subject to the successful delivery of marketing and sales initiatives by the two companies, this agreement is anticipated to be material for the Company. This view is based on the expanded commercial ability of the company through HP's global network.