viewNextech AR Solutions Corp.

NexTech AR adds Zoom video conferencing to its newly-acquired video training platform

The integration allows the company's newest acquisition, Jolokia, to live stream Zoom-quality video to as many as 100,000 people

Remote meeting on a laptop
As companies prepare to go virtual for an indefinite period of time, NexTech CEO Evan Gappelberg believes they have created a product that will change the way meetings are run

NexTech AR Solutions Corp (OTCMKTS:NEXCF) (CSE:NTAR) announced Tuesday that it has integrated Zoom Video Communications Inc (NYSE:ZM) technology with its soon-to-be-acquired live streaming software company, Jolokia, effectively extending the range of Zoom meetings to include 100,000 people at once. 

Jolokia, which NexTech has a binding letter of intent to acquire, operates a video training platform called Inferno, which boasts blue-chip customers like Merck, Toyota and CBS.

With Zoom integration, Inferno users can launch meetings from within the platform and live stream them out to 100,000 people with the video quality of a small conference call and all of Inferno’s available live video features.

READ: NexTech AR Solutions positioned for record-setting sales month as working from home becomes the new normal

“We are moving very fast with the team at Jolokia, and with this Zoom integration we have created a tremendous amount of value for the combined companies,” NexTech CEO Evan Gappelberg said in a statement. “As everyone has experienced lately, the Zoom platform works really well for a small group but glitches when many people join.”

“With the Jolokia and Zoom integration we have created net new platform capabilities which exceed that of a Zoom conference alone. As of today we can now broadcast a Zoom live conference with enhanced AR to 100,000 people, without any glitching, which is huge.”

As corporate meetings, public events and school classes go increasingly virtual due to the coronavirus (COVID-19) pandemic, having an effective video conference tool that works at scale is crucial. The Zoom Jolokia integration offers that, the company said, in addition to NexTech’s augmented reality technology, which the company claims can seamlessly create 3D photorealistic holograms of people and products for virtual events using its ARitize app.

“With the integration of NexTech’s augmented reality holograms, our Inferno platform is well positioned as the world’s most advanced video learning experience platform (LXP),” Jolokia CEO Pete Mastin said. “Combining live broadcasting with interactive video, artificial intelligence and holograms, corporations are now able to rapidly deliver immersive, engaging learning experiences anywhere.

“We are very excited to merge with NexTech AR as we believe the combination of our Inferno Platform with NexTech’s formidable tech stack will create a new generation of learning and development products that will gamify the learning experience in a way that has not been seen before.”

As companies prepare to go virtual for an indefinite period of time, Gappelberg believes NexTech and Jolokia have created a product that will change the way meetings are run.

“Imagine watching a training video, going to a virtual conference or webinar and being able to take what you are seeing on screen and put it in the room with you as a 3D/AR experience,” Gappelberg said. “Having AR seamlessly work in video training, virtual conferences or webinars provides us with competitive differentiation and a very timely addition to our AR omni-channel offerings. 

“With the spread of the coronavirus, all governments, learning institutions and corporations are forcing a huge paradigm shift in society to remote work, training and learning, creating massive new demand which should lead to explosive adoption for this platform. We expect to see a big upside in this deal for NexTech shareholders”.

NexTech is one of the leaders in the rapidly growing augmented reality industry, estimated to hit $120 billion by 2022, according to Statista. The company also offers AR for e-commerce companies, AR in Chat, an ARitize App, AR University for education and “v-commerce,” an in-store virtual reality experience.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com 

Follow him on Twitter @andrew_kessel

Quick facts: Nextech AR Solutions Corp.

Price: 7.93 CAD

Market: CSE
Market Cap: $547.63 m

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