Telenet sells VR arcade The Park back to its founder

What's the deal? Belgian telecom and media company TelenetDealroom has a profile for this one. Try Dealroom → has sold The ParkDealroom has a profile for this one. Try Dealroom →, a virtual reality entertainment operator, to a holding company controlled by Philippe De SchutterDealroom has a profile for this one. Try Dealroom →, the founder of the business. He now returns as its owner and leader.

What's the endgame? De Schutter aims to grow The Park from 16 to 25 VR arcades, adding nine locations in just over a year. He also plans to introduce "cultural" virtual reality experiences.

What changes? The Park moves from corporate ownership under a listed telecom group back to founder control, reuniting the company with the person who built it.

The signal: The sale reflects Telenet trimming operations outside its core telecom and media business, while a founder bets on VR entertainment expanding beyond gaming into culture.

Read more: De Tijd

Image credit: nodstrum