July 9, 2019 – Swedish company Bublar Group, has acquired Finland-based 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 through the use of augmented reality technology.
Since 2018, Sayduck has collaborated with e-commerce platform Shopify Inc., which 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, commented: “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.”
Niklas Slotte, CEO of Sayduck, said: “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 have been created in 3D on the Sayduck platform, and the number of daily 3D views via Sayduck had increased from around 500 in 2016 to 12,500 at the end of 2018, according to the company.
Bublar Group stated that the purchase price was 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.
Image credit: Sayduck