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TICKERS: NTAR; NEXCF

Augmented Reality Platform Builder Buys Photography Software Firm
News Update

Source:

This is the tech company's second e-commerce-focused acquisition so far in 2019.

NexTech AR Solutions Corp. (NTAR:CSE;NEXCF:OTC) announced in a news release it continues its growth strategy with the acquisition of Hoot, whose software allows for three-dimensional (3D) and 360-degree merchandise photography with spin and zoom features. Specifically, Hoot's platform converts a two-dimensional image into a 3D object that can be fully rotated.

NexTech will add the Hoot platform to its own augmented reality technologies that it offers to online retailers.

Installing the Hoot capability on a website only requires adding some code. Integration into the e-commerce platforms of Amazon, Yahoo, BigCommerce, Magento, Shopify and Squarespace also is possible but with no code needed.

Some consumers are already familiar with Hoot as it has been part of the online experience with certain brands, including as Reef, Biltwell and JLab Audio.

"Brands need to focus on providing an online shopping experience that is as personal and interactive as what a customer would get in a physical store," CEO Evan Gappelberg said in the release. "With this acquisition added to our technology stack, retailers can do exactly that."

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: NexTech AR Solutions. Click here for important disclosures about sponsor fees.
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