Realfiction announces the outcome of the strategic review of its Sales Activities

Realfiction Holding AB (“Realfiction”) announces that the company has completed the strategic review of its Sales Activities, which was announced in September 2020. The recommended course of action is to maximize shareholder value by continuing to run these parts of the company inhouse together with its global partner network. Realfiction’s Board has decided to follow this recommendation, and it has a positive outlook for these parts of the company in H2 2021 and thereafter as coronavirus restrictions are expected to be further reduced in key markets.

The strategic review was initiated in light of the strong progress achieved in 2020 in the development of ECHO. Based on this progress, Realfiction felt obliged to review if maintaining two complex verticals within the company was the best way forward for all stakeholders, including its shareholders and the global network of partners working together with Realfiction to deliver outstanding experiences to end-customers all over the world.

Michael Kjær, Chairman of the Board, comments: “With the strategic review completed, we will continue to push forward in all our business areas, including Magic-as-a-Service for Retail and Exhibitions, and our Experience hardware sales. As coronavirus vaccination programs are making steady progress, the mid-term and long-term outlook for these areas certainly looks promising, and we look forward to pursuing upcoming growth opportunities together with existing and new partners.”

With the heavily oversubscribed capital raise of 35.8 MSEK in November 2020, and the possibility to receive up to 41.0 MSEK in additional funds from outstanding warrants in November 2021, Realfiction has a strong financial position.