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FOR IMMEDIATE RELEASE
GLOBAL VR SIGNS FOUR GAME AGREEMENT WITH ACTIVISION
January 30, 2001 -- San Jose, CA -- GLOBAL VR announced today that it has signed an agreement with Activision, Inc. to acquire the worldwide exclusive rights to develop four of Activision's PC games for Global's VR Vortek Arcade Platform.
GLOBAL VR recently announced that it had completed development and testing of Heavy Gear II, the first game of the four game agreement. It unveiled the second title, SIN, at the recent International Association of Amusement Parks and Attractions (IAAPA) show in Atlanta, GA. Future games will be announced at a later date.
As part of the agreement, GLOBAL VR has the exclusive right to convert these specific games to virtual reality Arcade use. The company intends to initially offer these titles exclusively in the VR Vortek, but did not rule out the possibility of offering some of them on other arcade platforms as well.
"That is the beauty of our PC-based architecture", stated Milind Bharvirkar, President and Founder of GLOBAL VR. "While most manufacturers are married to a particular hardware configuration, by using the PC, we have total flexibility. If we wanted to, we could take any one of these games and place them in a much less expensive standard video game cabinet after they had run their course in the Vortek. Theoretically, that would allow us to lengthen the product life cycle of our products, and increase the return on investment we are making in these game conversions. It also would increase the ROI to the operator, as they could continue to get a return on games by placing them in a different cabinets and reducing the price per play. We feel we are about to change the economics of this industry back in favor of the operator."
GLOBAL VR is the manufacturer of the VR Vortek line of virtual reality arcade games. The VR Vortek is the world's first walk-up, coin-operated virtual reality system. Utilizing a PC platform, with a boom-mounted display, the VR Vortek offers location owners the benefit of infinitely interchangeable titles in a non-attended simulator. The new VR Vortek 2 offers the same level of convenience, flexibility and immersive experience in a standard-sized upright cabinet.
Players have been awed by Global VR's first title, Heavy Gear II. Based upon the hit game for the PC and Playstation, it is among the top earning games at premier locations around the country. Offered in both the VR Vortek, and Vortek 2 cabinets, it offers players a truly immersive, 3-D experience with force-feedback. GLOBAL VR also recently completed the purchase of the assets of Interactive Light, acquiring the technology to such redemption hits as Kick-It! and Slide-It!
Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products. Founded in 1979, Activision posted revenues of $572 million for the fiscal year ended March 31, 2000.
Activision maintains operations in the US, Canada, the United Kingdom, France, Germany, Japan, Australia, and the Netherlands. More information about Activision and its products can be found on the company's World Wide Web site, which is located at http://www.activision.com.
For further information please contact:
Phone: (408) 597-3400 ext: 2443
Fax: (408) 597-3431
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