LAKE MARY, Florida,
March 4, 2015 /PRNewswire/ -- FARO
Technologies, Inc. (NASDAQ: FARO), the world's most trusted source
for 3D measurement, imaging, and realization technology, announces
the acquisition of kubit GmbH, a global leader in the development
of software for surveying and as-built documentation. The
acquisition also includes substantially all of the assets of its
U.S. distributor kubit USA,
Inc.
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Located in Dresden, Germany,
kubit has been developing field-proven software products to enable
and simplify the use of real world objects in CAD applications
since 1999. Initially launched to link total stations directly to
AutoCAD, today kubit is the industry leader in providing tools to
integrate 3D laser scan data with CAD environments such as Autodesk
Revit and AutoCAD. kubit's software is hardware independent, giving
customers the flexibility to utilize any hardware offering, thus
ensuring maximum productivity.
kubit software is used in a large number of applications,
including but not limited to:
- Building Information Modeling (BIM)
- Archaeology
- Architecture
- Plant survey
- Construction
- Built heritage conservation
- Facility management
- Interior outfitting
- Police and security forces
- Surveying
"The acquisition of kubit is an exciting step in FARO's strategy
to develop integrated, disruptive 3D documentation product
offerings for the Architecture, Engineering and Construction
market," stated Jay Freeland, FARO's
President and CEO. "By adding kubit's products to our portfolio,
customers now have significantly enhanced software options to serve
a vast array of point cloud modeling, analysis needs, and
measurement capabilities with very high connectivity to the
Autodesk suite of products."
The all cash transaction includes an initial payment as well as
future earnout payments.
For more information about FARO's 3D scanning solutions visit:
http://www.faro.com
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, 2014.
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.
The Company's global headquarters is located in Lake Mary, FL; its European regional
headquarters in Stuttgart,
Germany; and its Asia/Pacific regional headquarters 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,
Portugal, India, China,
Malaysia, Vietnam, Thailand, South
Korea, and Japan.
More information is available at http://www.faro.com