Nordic XR-company Bublar Group Acquires Finnish Augmented Reality Pioneer Sayduck

Nordic XR-company Bublar Group Acquires Finnish Augmented Reality Pioneer Sayduck

Bublar Group (BUBL MTF), Scandinavia’s leading listed company in AR/VR/XR technology, acquires the Finnish AR-company Sayduck, with offices in Helsinki and Vilnius.

Sayduck enables e-commerce companies to develop their digital product portfolio into 3D and allows end consumers to deploy virtual 3D models into the real-world based on the latest Augmented Reality technology.

Since 2018, Sayduck has collaborated with Shopify Inc, a world-leading e-commerce platform powers more than 800,000 businesses. Sayduck is Shopify’s first AR-partner and the company’s AR- and 3D modeling services are marketed towards Shopify’s client base.

Maria A Grimaldi, CEO of the Bublar Group: “The acquisition of Sayduck is part of our strategy to offer scalable XR technology. Our current subsidiary Vobling has built a strong position as an agency providing the enterprise sector with the latest XR-solutions. Now we can add a proven augmented reality SaaS-platform for the fast growing retail and e-commerce business, transforming their product visualization capabilities.”

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Niklas Slotte, CEO of Sayduck, “We are proud to be part of Bublar Group. Together we will strengthen our position as the leading Nordic company within XR technology and can meet the increasing demand from a global market. 3D and Augmented Reality are the next natural steps in the development for both web and mobile commerce. With our platform, we help brands and retailers to easily showcase their products in 3D”.

About 10,000 products in 3D have been created on the Sayduck platform. As a trend meter, it can be said that the number of daily 3D views via Sayduck has increased from about 500 in 2016 to about 12,500 at the end of 2018. This shows the increasing use of AR by customers who want to AR-visualize the product range for web and mobile.

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The Augmented Reality technology within B2B, so-called Enterprise AR, is growing at a rapid pace, with a significant contribution from the retail sector. 100 million consumers are expected to trade with the support of AR online and in stores by 2020, according to Gartner. 25% of global e- and m-commerce will be AR-adapted in 2030 according to Citibank.

The purchase price is paid in the form of newly issued shares in Bublar Group AB, which corresponds to a dilution for existing owners of approximately 7%. In addition, a performance-based potential additional purchase price (to be paid in newly issued shares) has been agreed, which for existing owners can lead to further dilution of a maximum of 6.5%. Sayduck’s shareholders include a one-year lock-up agreement for the shares.

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