Uppsala,
A crucial aspect of the agreement is the value-based business model where the success of Vidhance is also tied to the success of the final product, which also opens up for long term recurring revenue.
"I am very happy to embark on this journey together with RealWear. We see great potential in our combined technology, and our strategies for addressing this market are fully aligned," says
Due to the nature of the collaboration and the value-based business model the revenue will be determined based on our joint success over the next few years, with a low minimum revenue. However, the deal marks a strategic milestone for Vidhance's long term objective to increase recurring revenue and to offer expert services to our customers. This is especially important within the Professional business unit.
"The video stabilization technology developed by Vidhance and adapted for use in the RealWear portfolio offers a best in class viewing experience for all camera-based remote collaboration scenarios, where stability, situational awareness and focus on the subject matter are paramount", says Dr.
Vidhance and RealWear already have joint products on the market with the leading video stabilization from Vidhance. This new collaboration adds new products specifically developed for remote workers.
"RealWear and Vidhance both see an untapped potential within the market for remote workers, combining RealWear's great hardware platform with our cutting-edge software will help us unleash that potential" says
For more information, visit www.vidhance.com or contact:
Phone: +46708108070
Email: nils.hulth@vidhance.com
About
Vidhance is a Swedish software product company founded in 2007. Its goal is to become a world leader in optimizing and enhancing video, for example in real time directly from the camera or in live streams, in order to create added value for both the video consumer and the professional user. Vidhance's vision is to tear down technical barriers so that visual stories can be told and shared by everyone.
The Vidhance® product platform has been integrated and sold to international companies in a wide range of applications, from demanding defense and industrial applications to consumer electronics companies, primarily smartphone manufacturers. Vidhance today consists of a number of different and independent video enhancement features. Vidhance has offices in Uppsala and
About
RealWear, a global leader in hands-free, wearable computing solutions for frontline workers, was founded in 2016 and is headquartered in
RealWear's rugged, voice-operated product line has earned global recognition for revolutionizing the way frontline workers perform all tasks in challenging environments, while returning positive impact to the company and our environment. RealWear's commitment to innovation and safety earned more than 22 prestigious innovation awards, including Best Head-worn device (Augmented World Expo) and Best Solution for Manufacturing and Automotive (XR Today). RealWear's story has been featured in
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