Mercia Technologies PLC, a Midlands-based leader in the funding and commercialisation of technology businesses in the UK, confirms that portfolio company VirtTrade Ltd has secured an agreement with Panini Group, the world leader in sports and entertainment collectibles, to provide digital trading technology, further to its announcement on 27 January 2015 of a 'notable partnership' with an unnamed party.
VirtTrade’s trading engine takes the principle of a traditional printed card/sticker album and turns it into an interactive digital trading environment. Unlike traditional trading cards, VirtTrade driven cards can take live data feeds from a player, the IP owner, and the outside world. This significantly enriches the trading experience as well as providing exciting, custom opportunities for each IP owner.
Mark Payton, Chief Executive of Mercia Technologies PLC, said:
"We are delighted to confirm this major partnership between VirtTrade and Panini. The selection of VirtTrade by this significant owner of numerous high profile global IP rights is a strong endorsement of the strength and scalability of VirtTrade’s business model."
Peter Warsop, Group Licensing Director at Panini Group, said:
"We strongly believe that a digital trading platform has the potential to increase the success of licensed collectibles."
"Digital trading cards present an exciting opportunity and we feel that, through the application of VirtTrade’s proprietary technology, Panini can extend its industry leading position in sports and entertainment collectibles to this newly emerging sector."
Mercia Technologies announced on 27 January 2015 that it had acquired a 21% stake in VirtTrade for £1.5m.