RealityBuy.com, an Irvine provider of interactive 3D for e-commerce, said it will exercise options to acquire 20% of its franchisees in China, Hong Kong and Taiwan. The announcement took place only a week after the company finalized an agreement with the Taiwan franchisee and just six months after forging an agreement with those in China and Hong Kong.
U.S. CEO Mikael Jacobsson said the company based its share purchase decision on the “amazing speed” with which its China and Hong Kong partners built “significant interest” among leading suppliers there.
“We anticipate the same kind of phenomenal growth in Taiwan in the coming months,” Jacobsson said.
This is the first time realityBuy has exercised its acquisition option with any global partner. The option is a standard clause in realityBuy’s licensing agreements.
Meanwhile, the company this month appointed Senetas (S) Pte. Ltd. as the exclusive distributor for realityBuy interactive 3D technology in Singapore, Malaysia, Indonesia and the Philippines.
The agreement requires Sinagpore-based Senetas to secure realityBuy global partners in each of the four countries by late spring next year.
Senetas was one of the first companies to invest in realityBuy. Its chairman and group CEO, Francis Galbally, is also a realityBuy director.
RealityBuy.com provides interactive 3D content and e-commerce applications for the Internet. The company’s “see-try-buy” technology enables the use of 3D objects within a company’s Web site. A potential buyer can see and explore the product in 3D, interact with its features and buy the product in its selected configuration.
Outside the U.S., realityBuy’s franchise network for its technology also includes Australia, Canada, India, Japan, South Korea, South Africa and Thailand.
The company’s U.S. client base includes automotive manufacturers and resellers, furniture manufacturers and resellers, industrial component manufacturers, and retailers. n
