AppSwarm Announces Acquisition of Into the VR World Ecommerce Website

AppSwarm (OTCP:SWRM) has announced the acquisition of an innovative ecommerce website called “Into the VR World.”
As quoted in the press release:

AppSwarm is pursuing growth of its current in-house software development platforms and the application incubation/acceleration program. Developing virtual reality products and platforms has an immediate emphasis within our development sector. Further, the company is pursuing technology company mergers and acquisitions that fit within our corporate principles.
Ronald Brewer, CEO of AppSwarm, Inc., stated, “With our in-house focus heavily on VR and AR we thought it advantageous to acquire a sophisticated and graphics rich eCommerce site. Into the VR World made perfect sense. The data we are collecting and the feedback we are receiving, all point to significant opportunity within all facets of the virtual reality industry.”
The virtual and augmented reality industry is just starting to fully launch. According to research from the International Data Corporation (IDC), worldwide revenues for the augmented reality and virtual reality (AR/VR) market is forecast to grow from $5.2 billion in 2016 to more than $162 billion in 2020.
More than half of the revenue will come from VR/AR hardware sales. As VR hardware continues to compress in price and powerful smartphone based systems like Samsung’s Gear VR and Google’s mobile VR Daydream platform gain steam, it’s expected that 50% of worldwide revenues will be generated by VR/AR hardware sales according to the report.

Click here to read the full press release.