Mercia Technologies PLC VirtTrade secures partnership with Formula 1
June 20 2018 - 1:00AM
RNS Non-Regulatory
TIDMMERC
Mercia Technologies PLC
20 June 2018
RNS Reach 20 June 2018
Mercia Technologies PLC
("Mercia" or the "Group")
VirtTrade secures partnership with Formula 1
Mercia Technologies PLC (AIM: MERC), the national investment
group focused on the funding and scaling of innovative technology
businesses with high growth potential from the UK regions, is
pleased to announce that its direct investment, VirtTrade Ltd
("VirtTrade"), has secured a partnership with Formula 1 to join its
growing roster of digital initiatives, aimed at providing
innovative new methods for fan engagement in the sport.
VirtTrade is a developer and publisher of digital trading cards
and works with licensors to create high quality engagement apps for
fans. The VirtTrade platform allows fans around the world to pursue
their passions by collecting digital cards, making trades and
competing in games.
This new Formula 1 partnership follows the recent agreement of a
three-year collaboration with Valiant Comics to develop an
extensive digital collectibles app, based on the company's
characters and titles.
VirtTrade has been selected to feature in Tech City UK's Upscale
2018 programme, a cohort of the UK's fastest growing technology
companies. Duncan Best, the former chief marketing officer of
Dovetail Games, has also recently joined VirtTrade as Publishing
Director.
Paul Mayze, Managing Director of VirtTrade, said: "We are
thrilled to be working with Formula 1 and the opportunity that the
brand presents for a digital collecting experience. We look forward
to helping Formula 1 and its owners enter a new space to engage
fans and drive revenue streams."
Mike Hayes, Head of Digital & Digital Entertainment at
Mercia, said: "This is a really exciting time for VirtTrade and
Mercia is pleased to continue supporting the business as it goes
from strength to strength, by building strategic partnerships with
high-profile brands such as Formula 1, The Discovery Channel and
Valiant Comics. We look forward to seeing the business scale and
grow, delivering shareholder value over the medium term."
Adam Crothers, Head of Digital New Business at Formula 1, said:
"VirtTrade offers F1 a new and alternative take on presenting our
mix of content as well as a new entry point for fans. We think
their unique take on collectibles gamification will be a hit with
our current fan-base too and the product offers a game type
environment that isn't simply simulation based."
For further information, please contact:
Mercia Technologies PLC
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial Officer
www.merciatech.co.uk +44 (0)330 223 1430
Cenkos Securities plc
Stephen Keys, Camilla Hume (NOMAD and Joint Broker) +44 (0)20 7397 8900
Canaccord Genuity Limited +44 (0)20 7523 8000
Simon Bridges, Emma Gabriel (Joint Broker)
Buchanan
Bobby Morse, Chris Lane, Stephanie Watson
www.buchanan.uk.com +44 (0)20 7466 5000
About Mercia Technologies PLC
Mercia is a national investment group focused on the funding and
scaling of innovative technology businesses with high growth
potential from the UK regions. Mercia benefits from 19 university
partnerships and offices across the Midlands, the North of England
and Scotland providing it with access to high quality, regional
deal flow. Mercia Technologies PLC is quoted on AIM with the epic
"MERC".
Mercia's 'Complete Capital Solution' initially nurtures
businesses via its third party funds (now with circa
GBP350.0million under management following recent mandate wins) and
then over time Mercia can provide further funding to its Emerging
Stars by deploying direct investment follow-on capital from its own
balance sheet. Since its IPO in December 2014, Mercia has invested
over GBP46.0million directly across its portfolio of 'Emerging
Stars'.
About Formula 1(R)
Formula 1(R) racing began in 1950 and is the world's most
prestigious motor racing competition, as well as the world's most
popular annual sporting series. The 2018 FIA Formula One World
Championship(TM) runs from March to November and spans 21 races in
21 countries across five continents. Formula One World Championship
Limited is part of Formula 1, and holds the exclusive commercial
rights to the FIA Formula One World Championship(TM).
Formula 1 is a subsidiary of Liberty Media Corporation (NASDAQ:
LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the
Formula One Group tracking stock.
The F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD
CHAMPIONSHIP, GRAND PRIX and related marks are trademarks of
Formula One Licensing BV, a Formula 1 company: All rights
reserved.
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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