LAKE MARY, Fla., Dec. 12, 2016 /PRNewswire/ -- FARO®
(NASDAQ:FARO), the world's most trusted source for 3D measurement
and imaging solutions for factory metrology, construction BIM/CIM,
product design, public safety forensics, and 3D solutions and
services applications, announces the acquisition of MWF-Technology
GmbH, an innovator in mobile Augmented Reality (AR) solutions.
MWF's breakthrough technology enables large, complex 3D CAD data
to be transferred to a tablet device and then used for mobile
visualization and comparison to real world conditions. This enables
real time, actionable manufacturing insight for in-process
inspection, assembly, guidance and positioning.
Located near Frankfurt,
Germany, MWF's mobile AR solution (FARO AR Inspect) has been
utilized by some of the top aerospace and automotive companies in
the world in their assembly workflows to dramatically reduce cycle
time and significantly reduce manufacturing costs. This solution
includes both an innovative compression software tool for
converting 3D CAD data into a mobile format, enabling intuitive
navigation through the 3D data, and a hardware kit that includes a
3D ready iPad and alignment tools.
FARO AR Inspect, along with FARO TracerM guidance and
positioning technology, dramatically increases productivity for
factory metrology and construction BIM-CIM customers by making
information about the surrounding real world interactive and
digitally manipulatable.
Additionally, AR Inspect complements FARO Virtual Reality (VR)
Viewer (showcased at Intergeo 2016), which enables an immersive and
interactive experience in a simulated 3D environment. Among many
other benefits across multiple applications, it facilitates more
time and cost effective decisions in the design cycle by enabling
teams to spot flaws or potential risks before implementation.
"We are very excited about expanding our portfolio of virtual
reality solutions into actionable, mobile Augmented Reality with
MWF," stated Dr. Simon Raab, FARO's
President and CEO. "With the introductions of Mobile AR and VR
solutions, we are at a seminal moment where we can enable our
customers to evolve their thinking and actions beyond doing it the
right way to doing it the best way every time. They will benefit
from error detection at even earlier stages of the production,
construction or design process. As an industry pioneer, FARO
continues to be committed to driving technological innovation that
creates increasingly more value for our customers."
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 our FARO
Laser Tracker™ and FARO Cobalt Array 3D 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, Australia
and Japan.
More information is available at http://www.faro.com
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SOURCE FARO Technologies, Inc.