LAKE
MARY, Fla., Sept. 23,
2022 /PRNewswire/ -- FARO® Technologies,
Inc. (Nasdaq: FARO), a global leader in 4D digital reality
solutions, today announced the appointment of Patrick Bohle to the position of President,
Building Insights.
FARO's strategy to enable the digitalization of the world's
physical assets includes the development of software applications
to increase the value customers realize from FARO's broad set of 3D
capture tools. To ensure the focus needed for success, Patrick Bohle and his team will be singularly
focused on the identification, creation and deployment of software
targeted at generating customer insights from 4D digital reality
capture.
FARO will initially target applications in Facilities Management
as well as the $7 trillion
Construction market, of which approximately 10% is spent on waste.
Improving customers' workflows to leverage 4D virtual models can
reduce waste and dramatically improve customers' productivity,
predictability, and profitability, thereby enabling strong growth
and long-term financial performance at FARO.
"As we enter the next phase of FARO's transformation, I'm
pleased to have Pat, a senior executive with extensive experience,
leading our SaaS business which is focused on the Architectural,
Construction, Engineering and Operations (AECO) market," stated
Michael Burger, FARO's President and
Chief Executive Officer.
"I'm excited by the opportunity to leverage FARO's leadership
position in 3D hardware to improve customer insights and generate
value from 4D models," said Patrick
Bohle, President, Building Insights. "FARO has the
foundational technology to offer the broadest set of capabilities
that will drive long-term demand for both FARO hardware and
software as we integrate virtualized management and collaboration
into customer workflows in the building lifecycle management
market," concluded Bohle.
About FARO
FARO serves the AEC, O&M (Facility Operations &
Maintenance), 3D Metrology, and Public Safety Analytics markets.
For over 40 years, FARO has provided industry-leading technology
solutions that enable customers to digitize their world and use
that data to make smarter decisions faster. FARO continues to be a
pioneer in bridging the digital and physical worlds through
data-driven accuracy, precision, and immediacy. For more
information, visit FARO.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
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 the accretive value of the acquisition, FARO's strategic and
product prospects, and FARO's growth potential and profitability.
Statements that are not historical facts or that describe FARO's
plans, objectives, projections, expectations, assumptions,
strategies, or goals are forward-looking statements. In addition,
words such as "is," "will," "intend," "believe," "expect," "may,"
"could" or "should," 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 ability to realize the intended benefits
of this acquisition and to improve operational effectiveness; the
Company's ability to successfully execute its acquisition and
strategic plan; the Company's ability to maintain its technological
advantage by developing new products and enhancing its existing
products; the effect of the COVID-19 pandemic, including on the
Company's business operations, as well as its impact on general
economic and financial market conditions; the impact of
fluctuations in foreign exchange rates; 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,
2021 filed with the SEC on February
16, 2022 and in its Quarterly Report on Form 10-Q for the
quarter ended June 30, 2022 filed
with the SEC on August 3, 2022.
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.
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SOURCE FARO