LAKE MARY, Fla., Aug. 29, 2016 /PRNewswire/ -- FARO® (NASDAQ:
FARO), the world's most trusted source for 3D measurement and
imaging solutions for factory metrology, product design,
construction BIM/CIM, public safety forensics and 3D solutions and
services applications, announces the acquisition of Laser
Projection Technologies, Inc., a leader in high-speed, long-range
3D laser projection and measurement systems designed for use in
manufacturing applications requiring precise component
alignment.
Located in Londonderry, New
Hampshire, LPT's line of laser projection and measurement
systems are used throughout manufacturing environments around the
globe to maximize productivity and efficiency.
"The acquisition of LPT enhances FARO's robust portfolio of 3D
measurement solutions," stated Dr. Simon Raab, FARO's
President and CEO. "In addition to LPT's leading laser projection
solutions, we believe LPT's proprietary imaging laser
photogrammetry and imaging laser radar technologies have tremendous
potential to disrupt the market by establishing a new class of
high-speed laser measurement with advanced 3D imaging capabilities
and we will focus our integration efforts on rapidly leveraging
this potential. This technology is thousands of times faster than
currently available Lidar products and has proprietary imaging
features, which provide extraordinary qualitative and quantitative
inspection capabilities in every area of manufacturing. In
addition, this promising technology incorporates a well-developed
laser projection capability to guide assembly, making it a fully
robotic, high-speed collaborative tool for manual or automated
assembly and verification. In this case, 'seeing' is truly
measuring."
To learn more about this technology, along with all of FARO's 3D
measurement hardware and software solutions, please visit FARO at
IMTS 2016 September 12 – 17 at McCormick Place in Chicago, Illinois in the East Building –
Quality Assurance Hall in booth E-5825.
This press release contains forward-looking statements
within the meaning of the Private Securities Litigation
Reform Act of 1995 that are subject to risks and uncertainties,
such as statements about demand for and customer acceptance
of FARO's products, and FARO's product development and product
launches. Statements that are not historical facts or that
describe the Company's plans, objectives, projections,
expectations, assumptions, strategies, or goals are
forward-looking statements. In addition, words such as "is,"
"will" and similar expressions or discussions of FARO's plans or
other intentions identify forward-looking statements.
Forward-looking statements are not guarantees of future
performance and are subject to various known and unknown risks,
uncertainties, and other factors that may cause actual
results, performances, or achievements to differ materially
from future results, performances, or achievements expressed
or implied by such forward-looking statements. Consequently, undue
reliance should not be placed on these forward-looking
statements.
Factors that could cause actual results to differ materially
from what is expressed or forecasted in such forward-looking
statements include, but are not limited to:
- the Company's inability to successfully identify and acquire
target companies or achieve expected benefits from acquisitions
that are consummated;
- development by others of new or improved products, processes
or technologies that make the Company's products less competitive
or obsolete;
- the Company's inability to maintain its technological
advantage by developing new products and enhancing its existing
products;
- declines or other adverse changes, or lack of improvement,
in industries that the Company serves or the domestic and
international economies in the regions of the world where the
Company operates and other general economic, business, and
financial conditions; and
- other risks detailed in Part I, Item 1A. Risk Factors in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2015.
Forward-looking statements in this release represent the
Company's judgment as of the date of this release. The
Company undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new
information, future events, or otherwise, unless otherwise required
by law.
About FARO
FARO is the world's most trusted source for 3D measurement,
imaging and realization technology. The Company develops and
markets computer-aided measurement and imaging devices and
software. Technology from FARO permits high-precision 3D
measurement, imaging and comparison of parts and complex structures
within production and quality assurance processes. The devices are
used for inspecting components and assemblies, rapid prototyping,
documenting large volume spaces or structures in 3D, surveying and
construction, as well as for investigation and reconstruction of
accident sites or crime scenes.
FARO's global headquarters are located in Lake Mary,
Florida. The Company also has a technology center and
manufacturing facility consisting of approximately 90,400 square
feet located in Exton, Pennsylvania containing research
and development, manufacturing and service operations of its FARO
Laser TrackerTM and FARO Factory Array Imager
product lines. The Company's European regional headquarters
is located in Stuttgart, Germany and its Asia
Pacific regional headquarters is located in Singapore. FARO has other offices in
the United States, Canada, Mexico, Brazil, Germany, the United
Kingdom, France,
Spain, Italy, Poland, Turkey, the
Netherlands, Switzerland,
India, China, Malaysia, Vietnam, Thailand, South
Korea, and Japan.
More information is available at http://www.faro.com
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