NexTech AR Solutions Corp. (NTAR:CSE;NEXCF:OTC) announced in a news release that it entered into an agreement to acquire AR Ecommerce LLC for 2 million common shares of NexTech stock. AR Ecommerce is an e-commerce firm that did about $2.65 million in business in 2018.
"With this acquisition we're not just offering AR [augmented reality] as a technology to others but using it ourselves to create the most robust AR/AI technology stack available in the market today," CEO Evan Gappelberg said in the release. The goal of NexTech is to "bring AR to the masses by creating an AR ecosystem featuring e-commerce solutions for websites, AR learning and education as well as AR live streaming for events."
In other news, NexTech launched its first Web-enabled AR product online, and generated $5,000 in one week. The company intends to launch 10 more such offerings on its site in the immediate term.
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