Virtualware's American Gambit: A Key Hire Signals a Bold US Push

BILBAO, Spain – June 09, 2026 – In a move that signals a significant escalation of its global ambitions, European immersive technology leader Virtualware has appointed Jason Paltrowitz to its International Advisory Board. For those watching the enterprise software space, this isn't just another executive appointment; it's a meticulously calculated play for the world's largest capital market. Paltrowitz, a veteran architect of cross-border market access, is being brought on board to build a bridge between the Bilbao-based firm and the deep pools of institutional capital in the United States.

The appointment comes just a year after Virtualware (Euronext Growth Paris: ALVIR) successfully uplisted to the Euronext Growth market in Paris, a move designed to enhance liquidity and attract a broader international investor base. Now, with the hiring of Paltrowitz, the company is making its next objective crystal clear: It's coming for America. This isn't just about selling more software; it's about making Virtualware a visible, investable, and permanent fixture in the U.S. financial ecosystem.

The Architect of Access

To understand the gravity of this hire, one must understand Jason Paltrowitz's career. As the founder of Crossbridge Advisors, he now specializes in guiding international firms through the complex maze of U.S. market entry. But it's his previous roles that make him the ideal sherpa for Virtualware's journey. During his 12-year tenure as Executive Vice President at OTC Markets Group, Paltrowitz was instrumental in transforming the platform into a premier venue for international companies seeking visibility with U.S. investors without the formidable cost and regulatory burden of a full NASDAQ or NYSE listing.

He was a key figure in adding over 5,000 issuers from nearly 50 countries to OTC's premium markets. His work involved forging partnerships with major global exchanges like the London Stock Exchange and Euronext, creating the very pathways that companies like Virtualware now seek to travel. Before that, his 11 years at BNY Mellon, particularly as Head of the Global Capital Markets Group within its Depositary Receipt Division, gave him an unparalleled view of the mechanics of cross-border investment.

"Virtualware has a proven product and an international client base," Paltrowitz stated, outlining his new role. "My focus will be on helping the company become visible and investable to U.S. institutions." This is not the language of sales, but of financial strategy. His mission is to translate Virtualware's European success story into a narrative that resonates with American fund managers, analysts, and institutional buyers.

A Calculated Leap Across the Pond

Virtualware's push into the U.S. is not a speculative leap but the logical continuation of a well-defined strategy. The company's 2024-2026 strategic plan explicitly targets North American expansion, and the results are already bearing fruit. In 2025, North America accounted for a staggering 40% of the company's consolidated revenue, a dramatic geographic shift for the Spanish firm. With a subsidiary already established in Orlando, Florida, and a client roster that includes heavyweights like GE Vernova and Volvo, the operational foundation is already in place.

Financially, the company has been building a compelling case. It reported a 91% increase in EBITDA in 2024 and saw its subscription-based revenue—the holy grail of modern software companies—grow to represent 41% of its total income. The successful uplisting to Euronext Growth in June 2025 was the first major step in its capital markets journey, increasing its market capitalization by 35% to €36.8 million at the time.

"Paltrowitz has spent his career connecting companies outside the United States with American investors," said Unai Extremo, CEO of Virtualware. "As we build on our Euronext listing, his knowledge of U.S. market access will help us reach a wider investor base." This move is about leveraging its public market validation in Europe to unlock a new, much larger tier of investment in the U.S.

The Enterprise Metaverse Heats Up

While consumer-focused "metaverse" hype has cooled, the application of immersive technologies in the enterprise sector is just entering its early innings. This is where Virtualware thrives. The company provides the digital picks and shovels for the industrial world's transformation, specializing in enterprise 3D software, digital twins, and advanced simulators. Its flagship platform, VIROO, allows global organizations to deploy and manage virtual reality solutions at scale, a critical capability for training, operations, and engineering.

The demand is tangible. Industries from automotive and energy to defense and manufacturing are racing to adopt these technologies to improve efficiency, reduce errors, and train a new generation of workers. Virtualware's client list, which includes NATO, the Spanish Ministry of Defense, and NextStar Energy, demonstrates its ability to deliver robust solutions for mission-critical applications. The recent acquisition of Simumatik, a company specializing in electrical simulation and automation training, further deepens its industrial toolkit.

Paltrowitz joins a formidable advisory board that already includes figures like Albert Maasland, the former CEO of Saxo Bank UK, and Ed Martin, a former executive at both Unity and Autodesk. This curation of talent underscores a sophisticated approach to growth, surrounding the core team with experts who have navigated the very challenges Virtualware now faces.

Navigating the U.S. Capital Maze

For a European company of Virtualware's size, a direct, full-scale listing on NASDAQ is a monumental undertaking. Paltrowitz's expertise suggests a more nuanced strategy is in play, likely involving a cross-trading solution on a platform like OTCQX Best Market. This route allows a company to leverage its existing European listing to provide U.S. investors with an accessible way to buy its stock in U.S. dollars during U.S. market hours, all while adhering to the disclosure requirements of its home exchange.

It's a strategy that balances visibility with regulatory efficiency, a hallmark of Paltrowitz's work at OTC Markets. By making the stock easier to own for U.S. funds that may be prohibited from or hesitant to invest directly on European exchanges, Virtualware can significantly broaden its appeal. This appointment is the key that could unlock that door, providing not just advice but a network and a proven playbook for execution. With a solid operational foothold in North America and a clear product-market fit in the burgeoning enterprise immersive tech space, securing access to the U.S. capital markets is the final piece of Virtualware's ambitious puzzle.