Malaysian independent agency Entropia Group has acquired the 360 video business from Singapore-based Virtual Reality (VR) company, VOSTOK VR. VOSTOK VR was founded in Singapore in June 2014 and has since completed more than a hundred VR/360 production assignments, both in Asia and Europe.
During its work in the Asia region, VOSTOK VR worked with a diverse range of customers, including Discovery Channel, Mediacorp, Uber, AirAsia, Marina Bay Sands, DBS Bank, OCBC Bank, Nestle, and the Singapore Business Federation, among others. Its offering spans creating interactive experiences across product launches, market activations, interactive trainings, sales roadshows and company presentations, incorporating Augmented Reality, volumetric video and VR holograms, Mixed Reality, 360 commercial video and presentations, 360 VR animation and interactive VR.
The company, funded by Mediacorp since 2016, was selected as one of the most promising startups to watch at Mediapreneur Incubator (Mediacorp’s incubator programme for innovative start-ups), with projects featured on various media channels.
Commenting on the acquisition, Prashant Kumar, founder and senior partner at Entropia said, “Extended reality experiences are set to enhance the quality of consumers’ lives by changing the way we learn, play, sell, work and love. We are committed to bringing best in class expertise in the area to our clients and this acquisition of VOSTOK VR’s 360 video business is a promising beginning towards that.”
In a conversation with Marketing, Kumar added that the acquisition brings more than two dozen clients under the combined portfolio and currently a “transition team” is in place to ensure a synergistic relationship between Entropia’s existing operations and VOSTOK’s capabilities. While the leadership for the new entity is yet to be announces, Kumar said decisions will be made by the start of 2020. Vitaliy Nechaev, founder of VOSTOK VR will remain with the leadership team taking on a creative guru role for the company.
Pavan Kharbanda, partner, finance & investments at Entropia added, “While traditional services are getting increasingly commoditised, we continue to invest in areas that can bring a unique competitive advantage to our clients – and in turn generate better returns for our business via such diversification.”
Since it was founded in Kuala Lumpur in July 2016, Entropia has seen growth in the region, becoming one of the top marketing services groups in Malaysia, offering services across consulting, communication, CX and eCommerce. And now, continuing on its quest to bring a different approach to marketing, the company says it is seeking to deepen its client base in the extended reality areas with this acquisition.