The leading provider of solar and other alternative energy solutions, TGI Solar Power Group, Inc., through its subsidiary Advent Galaxy Inc., has acquired the immersive technology specialist XR-Labs.
The group had been exploring potential companies that could meet its technological environments. After months of research and analysis, it decided to go ahead with Miami-based XR-Labs as the preferred acquisition candidate.
“XR-Labs was vetted very carefully and strategically chosen,” said TGI Chief Executive Officer Henry Val.
It is ideal for TGI that its newest subsidiary has a base in Miami, which is emerging as a hub for extended and augmented reality innovations. XR-Labs particularly has a brilliant team and community that has been at the forefront of many developments with wide-ranging applications.
XR-Labs describes itself as a community of professionals and enthusiasts passionate about building and connecting global immersive networks. The company seeks to empower and accelerate the progress of tech communities and content creators. Its fundamental goal is to develop original IP content and bring forward the latest and greatest in the global XR space.
“We are a community for innovation, design, and engineering creativity, and XR-Labs utilizes the latest technologies and methodologies so that we may assist clients in every way possible,” said Paul Bronstein, Managing Partner at XR-Labs.
The two key projects currently under the works at XR-Labs are XR Miami EXPO and a movie-themed Galaxy to pay homage to one of the biggest movie hits of the 1980s.
The company aims to work with a wide array of clients from across the globe, helping them use augmented reality, virtual reality, and extended reality tech to power a digital transformation for their employees and customers.
“This acquisition will not only fill unmet market needs but will drive revenue and growth that will increase shareholder value and demand in the market for our shares,” Val added.
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