Spanish VR Firm Acquires UK Visualization Specialist

Virtualware, a 3D-driven industrial software company, has completed the acquisition of 100% of Virtalis Holding, the Manchester-based virtual reality and RT3D visualization software company. The combined group provides immersive visualization and digital twin technology for industry, nuclear, critical infrastructure and defence.

The acquisition more than doubles the company's scale, with pro forma revenue increasing from €4.32 million to €10 million based on projected 2026 results. 

"This acquisition marks a significant milestone for Virtualware, not only because of its scale, but also because it strengthens our product portfolio and expands our industrial customer base," said Unai Extremo, CEO and founder of Virtualware.

Virtalis, founded in 2003, specializes in virtual reality and RT3D visualization software. Its technology is used by BAE Systems, Blue Origin, Lam Research, Seaspan, Subsea 7, Vestas, Thales, Lockheed Martin and Ford. The acquisition raises Virtualware's revenue generated outside Spain from 54% to 78%. The United Kingdom becomes the largest market, accounting for 37.7% of the pro forma combined group's aggregate revenue.

The acquisition follows Virtualware's October 2024 purchase of Swedish company Simumatik, a specialist in emulation and digital twin technology.

Founded in 2004 and headquartered in Bilbao, Spain, Virtualware has offices in Orlando, Toronto and Skövde.