EVR holdings (LON: EVRH) has seen a surge in its share price after a partnership agreement was reached with O2 (NASDAQ: OIIM) .
Today, the launch of MelodyVR, as the exclusive partner at O2’s UK 5G launch.
When customers agree a plan with O2, this will give them access to a 12 month subscription to the MelodyVR platform.
The agreement plan gives O2 customers unrestricted access to the MelodyVR platform, via a smartphone app or VR devices when any customer upgrades to a 5G plan.
O2 have been competitors such as Vodafone (NSE: IDEA) to combine virtual reality and 5G.
Additionally, if O2 customers take a premium tariff, the enabled plan will be inclusive of an Oculus Go device, complementing MelodyVR.
As a result, shares in EVR Holdings Plc have climbed 21.43% during Thursday. They are currently trading at 6.38p per stock, 17/11/2019 12:35BST.
This comes as no surprise from seniority at O2. The mobile giant has committed money and time to ensure long term partnership success.
These changes include, prime placement and promotion across the six biggest O2 stores nationally, allowing MelodyVR to engage with a variety of audiences.
Anthony Matchett, CEO and Executive Chairman of EVR Holdings PLC said “”We’re thrilled to announce our exclusive partnership with Telefonica UK, that will see O2’s new 5G consumers across the United Kingdom gain unrestricted access to the MelodyVR service for a minimum period of 12 months. 5G networks have the power to enable an entirely new-suite of technological advances and experiences, that will soon revolutionise how consumers fundamentally engage with technology. I am very pleased that O2 have chosen MelodyVR as a key partner for the rollout of 5G, and have recognised the MelodyVR service as a perfect-fit for their high-speed 5 th generation network”
Nina Bibby, CMO at O2 added “”Partnering with companies like MelodyVR creates a perfect way for O2 customers to enjoy virtual reality like never before – experiencing legendary gigs from around the world, reliving ones they’ve been to and seeing performances they can’t get to. At O2, we’ve always been a customer led business, with a rich heritage in live music, so the opportunity to create unique experiences like this with MelodyVR, that bring customers closer to the things they love, is fantastic”
Both parties seem excited about the new partnership, and this will give MelodyVR wide exposure to millions of O2 customers. This is one of many mergers in the tech industry as seen with Amazon.com Inc (NASDAQ: AMZN),
With the partnership including MelodyVR for 5G customers, shareholders will be keen to watch shares soar as sales increase if O2 promote the product in the right fashion.