TEMPE, Arizona, Nov. 30, 2022 (GLOBE NEWSWIRE) — Winding Technologies, Inc. (Nasdaq: WRAP) (“Wrap” or the “Company”), a global leader in innovative technologies and services for public safety, today announced that it has entered into a professional services and technology acquisition agreement with Lumeto, Inc. (“Lumeto”).
As part of the agreement, Lumeto Wrap will provide certain technology, services and perpetual licenses for use within the company. Pack reality virtual simulation training platform. Through the Lumeto platform, Wrap can also offer an enhanced, cloud-based virtual reality (“VR”) solution to potential customers. The partnership also includes provisions for additional services, resources and enhanced capabilities for Wrap to support the growing VR training modules for law enforcement and corrections.
Wrap expects to significantly accelerate development of its cloud-based VR training platform to complement its existing robust Wrap Reality solution. This new cloud-based offering provides greater flexibility and faster development of additional training scenarios, as well as an enhanced, cost-effective equipment package for potential law enforcement clients. The company will continue to offer and develop its existing on-premise Wrap Reality training platform used today by law enforcement and corrections departments.
“We look forward to joining forces with Lumeto to bring our world-class VR training capabilities to an enhanced, flexible, cloud-based platform,” said TJ Kennedy, CEO of Wrap Technologies. “This new platform provides our existing and new customers with a new turnkey Cloud VR training solution with the critical high-end scenarios that Wrap Reality is known for. By partnering with Lumeto and leveraging their existing technology, Wrap is able to accelerate our development tremendously, saving us significant time and cost compared to building a full cloud solution in-house. We believe this enhanced platform, when combined with our existing Wrap Reality solution, will provide law enforcement with more flexible, immersive training solutions, both on-premises and in the cloud, further improving the way law enforcement training is delivered in the future .”
“We are excited that Wrap is using our technology to accelerate their Wrap Reality VR training platform,” said Raja Khanna, CEO of Lumeto. “Lumeto has developed a leading VR platform for healthcare and some law enforcement, and we believe Wrap is the right partner to further develop and deploy the law enforcement training platform. Lumeto will help build Wrap’s training scenarios and capabilities into the new and improved Wrap Reality cloud platform as we continue to focus on our healthcare industry.”
About Wrap Reality
Wrap Technologies, through its subsidiary Wrap Reality, is an industry leader in virtual reality training for law enforcement. Wrap Reality provides realistic, easy-to-use, cost-effective law enforcement training software.
Wrap Technologies (Nasdaq: WRAP) is a global leader in innovative technologies and services for public safety. Wrap develops creative solutions to complex problems and empowers public safety officials to protect and serve their communities through its portfolio of advanced technology and training solutions.
Wraps Bola Wrap® Remote Restraint device is a patented, hand-held pre-escalation and arrest device that discharges a Kevlar® chain to temporarily detain uncooperative suspects and persons in crisis at a distance. Due to its many applications in the field and growing adoption by agencies around the world, BolaWrap is proving to be an effective tool in helping law enforcement officers safely detain individuals without injury or the need to use increased force.
Wrap Reality, the company’s virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform that provides first responders with the discipline and practice in methods of de-escalation, conflict resolution, and use of force to perform better in the field .
Wrap is headquartered in Tempe, Arizona. For more information, go to wrap. com.
BolaWrap, Wrap and Wrap Reality are trademarks of Wrap Technologies, Inc. All other trade names used herein are trademarks or registered trademarks of their respective owners.
Matt Glover and Tom Colton
Gateway Group, Inc.
Contact person for media relations:
Robert Collins and Zachary Kadletz
Gateway Group, Inc.