NEW YORK, NY, April 26, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing technology-based companies globally. In addition to the 3 acquisitions already completed, the company has also created a number of beneficial technology partnerships. The aim of technology partnerships is to expand ILUS’ global footprint and create technology integrations.
ILUS has now entered into a partnership agreement with Takeleap, an award-winning technology agency that delivers unique virtual reality solutions which focus on enabling brands to augment their customer and staff engagement capabilities. Takeleap is a global leader in developing Artificial Intelligence, Machine Learning, Augmented Reality and Virtual Reality Training. The company already delivers VR, AR & AI solutions for many organizations and government entities across the globe and its technology is also used by many iconic global brands.
Having successfully developed and implemented Augmented Reality experiences for many global customers such as Porsche, Toyota, Hyundai and IKEA, Takeleap is involved in the delivery of sensor-based solutions, 3D projection mapping and Virtual Reality training simulations to name a few. Takeleap’s technology is also used for Intelligent Computerized Vision which ILUS may utilize on their range of Vertical Take Off and Landing (VTOL), Drone and Unmanned Aerial Vehicle solutions which are currently going through Research and Development. These will be developed to provide real time incident support, data gathering and preventative surveillance, particularly for wildfires, electricity lines and oil pipelines.
Takeleap has developed a Virtual Fire Training product which has been successfully implemented in several major UAE government departments such as DEWA (Dubai Electricity and Water Authority). The partnership has been established in order to commercialize the training product globally. ILUS will commence with the marketing and delivery of the VR Fire Training solution globally whilst Takeleap will be in charge of further technology development. Together, the companies will work on various modules of Fire safety training including First Responder Training. Takeleap has already implemented a similar strategy with Sanofi, a global medical solutions company, for various medical training modules.
Organizations today are required to adhere to local, regional and national health and safety regulations through the training and education of staff. It is essential for companies to empower their staff to maintain a safe working environment through ability to protect themselves, their colleagues and their company’s assets. Fire and Life safety training remains a key component of the regulated health and safety training requirement globally. Hotels, Schools, Hospitals, Restaurants, Airlines, Corporate Enterprises, Emergency Services and many more sectors are required to have their staff complete fire and life safety training on an ongoing basis. Currently, this training is costly, time consuming and inefficient. It also almost always requires a trainer or group of trainers to deliver the training in person.
With the implementation of a virtual reality training package for the purpose of fire safety training, CPR training or a firefighting training, there is minimal need for large numbers of learners to be divided into groups and training can be conducted much quicker. Learners are guaranteed to all receive the same training and benefit from experiencing real scenarios and threats to safety. The standardization of the course curriculum is a key benefit of virtual reality training. Courses can obtain approval and certification from the relevant authorities and organizations deploying the virtual reality training solution have complete confidence that the approved training is being delivered repeatedly to the learners. Virtual reality training solutions provides customers with the ability to customize the training program and use it globally across their chains, maximizing efficiency, reducing cost and improving quality control.
Additional advantages of virtual reality training include maximum involvement and attention of the learners as the training is engaging and more enjoyable. The increased attention combined with the practical experience improves responses during real life situations. Virtual reality training can also speed up the onboarding process for new staff and improve the level of practical knowledge retention within an organization. VR training reduces the need for large spaces to be used for training which it being possible for training to be completed at home or in the boardroom. This reduces cost, schedule conflicts and even pollution.
The global virtual reality market was valued at USD 6.1 billion in 2020 and is expected to reach USD 20.9 billion by 2025. It is anticipated to grow at a CAGR of 27.9% from 2020 to 2025. Statistics show that the total cost of the skills gap to US companies per year equates to USD 160 billion and 45% of the current investments in corporate learning are ineffective. Furthermore, only 12% of CFOs have confidence in their learning and development investments. It is very clear that as businesses grow, experiential learning and development through the use of Augmented Reality is the solution. It is this expected increase in the adoption of augmented reality training solutions that ILUS is targeting through its partnership with Takeleap.
Takeleap’s virtual reality training is developed based on International Standards and Dubai Civil Defense Guidelines which is why it is being used by numerous government departments in the UAE. In partnership with ILUS, the team will be working to obtain necessary approvals globally from the relevant health and safety authorities.
Initially, ILUS will focus on sales of virtual reality training solutions to customers of BCD-Fire in the UAE, a fire and life safety equipment and services company which ILUS recently acquired. BCD-Fire’s existing customers include numerous hotels and resorts, industrial facilities, restaurant chains and manufacturing facilities. ILUS will leverage the BCD-Fire customer base to gain early traction for the VR training solutions through numerous national chains.
By the third and fourth quarter of 2021, ILUS will begin offering virtual reality training solutions to FireBug’s customers for the purpose of firefighter training and certification training for the use of FireBug equipment. ILUS will develop global business for its VR training solutions through FireBug, who will also be responsible for appointing distributors of its VR training technology globally.
Nick Link, ILUS CEO, had the following to say about the partnership: “We are immensely proud of this partnership with Takeleap, who already has customers like Porsche and Ikea. The rollout of our VR training solutions will increase the sales of both BCD-Fire and FireBug and even open doors for sales to additional customers, such as for our soon to be launched kitchen fire suppression systems and E-Raptor EV’s. This is an amazing opportunity for both companies and with this technology already being in such high demand, we are very excited to be rolling our VR training solutions out globally soon.”
As all of the current ILUS acquisitions include companies which manufacture and supply physical products, equipment and/or solutions, the ILUS management team has for a long time identified the need to create re-occurring revenue models and the Software as a Service model (SaaS) is a step towards this micro strategy. The global sale of VR training solutions, in partnership with one of the world’s leading Augmented Reality solution providers, represents an important milestone in the history of ILUS and the first of many SaaS technology solutions which the company will be adding to its stable.
For further information on the ILUS group of companies, please see their respective communication channels.
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