Virtualware completes acquisition of UK VR software firm Virtalis for EUR 5 million upfront

• Virtualware completed the acquisition of 100% of Manchester-based Virtalis, a virtual reality and real-time 3D visualization software company.
• Pro forma 2026 revenue is projected to rise to EUR 10 million from EUR 4.32 million, more than doubling the group’s scale.
• Consideration includes a fixed EUR 5 million payment at completion, with an earn-out tied to Virtalis operating results in 2026-2027.
• Funding came from commercial debt arranged via a syndicate backed by BBVA, IVF, Cofides, and Elkargi.
• International revenue share is expected to increase to 78% from 54%, with the UK becoming the largest market at 37.7%.

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