Matterport, Inc. (MTTR) announces a technological collaboration with CGS

0
266
MTTR
MTTR

Matterport, Inc. (NASDAQ: MTTR) shares rose nearly 5% to $4 in June 14 trade. The market capitalization was $1.21 billion. The reason for this was Matterport’s announcement of a new contract for the delivery of augmented reality (AR) technology.

MTTR has announced a technological collaboration with CGS, a global provider of employee training tools and services, as well as remote and mobile workforce assistance. The firms will collaborate to integrate Matterport’s AR technology with the CGS TeamworkAR digital platform.


Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .

Sponsored


As a consequence, an integrated solution will be developed that will allow instructors and more experienced staff to consult on-site repair teams, maintenance professionals, inspectors, and so on through mobile devices.

Matterport is banking on the AR platform’s economic viability. It makes it feasible, for example, to decrease the expense of professional visits to the workplace or to conduct training for many groups of trainees remotely – by a single specialist teacher.

A recent IDC study is encouraging for MTTR. Companies who use AR tools claim that they are beneficial, particularly in training and enhancing worker safety.

Many companies, not only those in the sector, are now utilizing augmented reality technologies. The Red Cross, for example, employs augmented reality for educational purposes.

Matterport, Inc. (MTTR)’s agreement with CGS provides a chance to considerably extend its addressable market. CGS is a Fortune 500 company that provides staff training tools and services to dozens of Fortune 500 firms, including McDonald’s, Microsoft, Comcast, Toshiba, Medtronic, and Maersk.

CGS also participates in Meta Platforms Inc.’s (FB) Meta Quest for Business program, which involves the usage of the Quest VR glasses ecosystem for business requirements.

Matterport Inc. (MTTR) stock is down -19.00% over the week and -19.96% over the past month. Its price is -80.38% year-to-date and -72.09% over the past year.

LEAVE A REPLY

Please enter your comment!
Please enter your name here