From: Robert Jacobson Subject: INDUSTRY: Virtuality Goes Public Organization: WORLDESIGN, Seattle The current issue of VR NEWS (Nov 1993) contains a front-page story on Virtuality Group's public stock offering. Mike Bevan, the managing editor of VR NEWS, offers a short editorial explanation of how the company, in October, placed 26 million shares on the London exchange at a price ranging from L1.70 (asking price) to L3.22 (peak price), now stabilizing aroiund L2.70-L2.90. This gives the Virtuality Group a capitalized value of approximately L75 million, or around $100 million and a bit. As Bevan writes, "The company's founders, Jonathan Waldern, Richard Holmes, and Al Humrich, have written a substantial chapter in the history of the VR industry, and deserve the success which their far- sightedness, professionalism, and stamina have brought them." Hear, hear. In the same issue, Bevan reports on a new enterprise, the Michigan Virtual Reality Center, being set up at the University of Michigan with ARPA funds (not yet awarded) and consisting of the following organizations: UM, GM, Ford, Chrysler, United Technologies, and the US Army Tank R&D Center (full members); and Deneb Robotics, IBM Watson Cente, Sun, SGI, EDS, Polhemus, VPL, Fakespace, n-Vision, Lightscape Graphics, Sterling Software, and Computer Tool & Die. The purpose of this comprehensive gathering is to advance the factory and other industrial applications of virtual worlds. Of course, there is that matter of funding.... Still, a mighty effort. As usual, VR NEWS continues its fine analyses. Bob Jacobson