ASX Listed, real-time software company Vection Technologies Ltd (ASX:VR1) has 
announced the proposed acquisition of leading Australian archviz studio, Blank 
Canvas Studios.

Vection Technologies plans to leverage Blank Canvas' real estate visualisation 
expertise to attract more mid-market customers as part of its broader global 
growth strategy to leverage its 3D, Virtual Reality (VR) and Augmented Reality 
(AR) product offerings in industry-specific verticals.

Founded in 2017, with studios in Perth and Sydney, Blank Canvas specialises in 
architectural visualisation through 3D imagery and 3D animation, partnering 
with some of Australia's leading residential and commercial developers, 
including Mirvac, Blackburne, Finbar, Mustera Property Group, Megara, Vicinity 
Centres, AMP Capital, Development Victoria and Dexus Wholesale Property Fund.

Through the acquisition of Blank Canvas, Vection extends its Architecture, 
Engineering, Construction (AEC) & Real Estate offerings with two important 
capabilities: the first being the ability to provide vertical-specific 3D 
rendering and visualisation services; the second to deliver Vection's cloud 3D, 
VR and AR applications directly to the Australasian real estate and 
architectural industries.

The purpose of this AEC & Real Estate vertically integrated acquisition is to 
deliver an industry leading product visualisation offering for architectural 
firms and property developers, made possible by Vection's cloud 3D, VR and AR 
technologies, which will augment Blank Canvas' existing product and service 
suite.  

"We are thrilled to join Vection Technologies during this really important time 
in the evolution of architectural visualisation. We're seeing enormous change 
in the sector and leveraging Vection's AR and VR capabilities will allow us to 
remain at the forefront of the industry." Commented Paul Clayton, Managing 
Director of Blank Canvas. "For residential and commercial developers, it means 
that, beyond photorealistic 3D imagery and animation, we'll expand to web-based 
AR and VR customer experiences that are truly immersive, to support our 
clients' marketing and sales strategies. So, our ability to add both creative 
and commercial value to every project has now been greatly enhanced, which is 
really exciting."

"Entire industries are experiencing the transformational power of real-time 3D 
technologies, resulting in their complete re-imagination. In this context, 
Blank Canvas will enable Vection Technologies to deliver seamless, AEC and Real 
Estate industry-specific real-time 3D solutions, expanding our market 
penetration and network throughout Australia and globally." Commented Gianmarco 
Biagi, Managing Director of Vection Technologies. "By leveraging our global 
infrastructure and market positioning, we believe that Blank Canvas can greatly 
improve its operating performance and margins with an expanded product breadth 
and scale, while representing the first foundational step in our Australasian 
growth plan. We are looking forward in accelerating our global Verticalization 
Strategy."

About Vection Technologies:

Vection Technologies Ltd (ASX:VR1) is a multinational software company that 
focuses on real-time technologies for industrial companies' digital 
transformation.

Through a combination of our 3D, Virtual Reality, Augmented Reality, Industrial 
IoT and CAD solutions, Vection Technologies helps companies and organisations 
to innovate, collaborate and create value.

For more information please visit the Company's websites:

vection.com.au   
mindeskvr.com 

Source: Vection Technologies Ltd