Vancouver-based venture studio Axiom Zen isn’t wandering too far from its own backyard as it makes a play for the virtual reality market.
The studio announced Monday (February 22) it has acquired Vancouver’s Hammer and Tusk, a firm specializing in VR, as it seeks expertise in the growing market of virtual and augmented reality.
“We had a really deep level of VR expertise and also noteworthy connections within the VR industry but those were the only two things we had,” Hammer and Tusk founder Mack Flavelle said.
“So combining our expertise with their resources has already allowed for some incredible things.”
Hammer and Tusk was founded in 2015 as a weekly news digest for the VR and augmented reality community. It has since expanded to include a consultancy arm, a podcast and monthly variety show broadcast on Vice.
The deal between the two tech firms amounts to an all equity transaction with an earmark of $1 million to help Hammer and Tusk grow, Flavelle told Business In Vancouver.
Flavelle’s own background comes from the gaming industry, where he previously served as CEO of Compass Engine before it was sold to East Side Games in 2011.
Hammer and Tusk has three products under development as it focuses on the software side of the VR and augmented reality space.
Flavelle said will be developing both gaming and “social cinema” experiences that will require help from Axiom Zen’s programmers and designers to deliver to the market.
Axiom Zen said Hammer and Tusk would continue to operate independently with Flavelle leading the company.
