SOURCE: The Glimpse Group, Inc.

January 03, 2017 09:00 ET

The Glimpse Group Acquires the Assets of LocateAR

NEW YORK, NY--(Marketwired - Jan 3, 2017) - The Glimpse Group, Inc. ("Glimpse"), a holding company for a diversified portfolio of Virtual Reality ("VR") and Augmented Reality ("AR") start-ups, today announced that it has acquired the assets of LocateAR, an AR geolocation platform development company and formed LocateAR, LLC.

Led by its founder, Liron Lerman, LocateAR's platform will enable businesses to rapidly develop and deploy targeted and specialized location-based AR experiences for their customers. The platform will consist of several components that include geolocation, image recognition, augmented reality and real-time cloud based content delivery.

"By joining The Glimpse Group, I have greatly enhanced my company's chances to succeed," said Mr. Lerman. "Not only can I focus my attention on development, but I am also surrounded by likeminded AR and VR entrepreneurs, a robust VR/AR ecosystem, a strong management team and a deep network."

"We are seeking entrepreneurs that are developing solutions that offer broad and creative VR and AR solutions to compelling business cases -- LocateAR certainly fits that bill," said Glimpse President and Chief Executive Officer Lyron Bentovim. "The ability to walk down a street and view projected information relating to restaurants, retailers, real estate or financial firms will vastly enhance the way people are able to interact and do business with the environment around them."

About The Glimpse Group, Inc.

The Glimpse Group is a company designed with the specific purpose of cultivating entrepreneurs in the VR and AR industry. Our unique business model simplifies the many challenges faced by entrepreneurs while simultaneously providing investors with an opportunity to invest directly into the emerging VR/AR space. The Glimpse Group funds, cultivates, and manages business operations while providing a strong network of professional relationships. Being a part of the Glimpse Group allows entrepreneurs to maximize their time and resources in pursuit of their mission-critical endeavors. For more information on The Glimpse Group, visit www.theglimpsegroup.com.

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