{"id":115018,"date":"2022-09-05T12:00:19","date_gmt":"2022-09-05T11:00:19","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=115018"},"modified":"2022-09-05T12:00:19","modified_gmt":"2022-09-05T11:00:19","slug":"faro-acquires-mobile-scanning-solutions-provider-geoslam","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/bim-news\/faro-acquires-mobile-scanning-solutions-provider-geoslam\/115018\/","title":{"rendered":"FARO acquires mobile scanning solutions provider GeoSLAM"},"content":{"rendered":"

4D reality solutions provider FARO\u00ae Technologies has acquired GeoSLAM, a leading provider of mobile scanning solutions with SLAM software to create 3D models for use in Digital Twin applications<\/h2>\n

The addition of GeoSLAM is expected to significantly expand and accelerate FARO\u2019s market growth opportunity in the mobile scanning space.<\/p>\n

GeoSLAM will be added to FARO’s portfolio of cutting-edge data capture solutions<\/h3>\n

Michael Burger, FARO president and CEO commented:\u00a0\u201cWe are thrilled to add GeoSLAM\u2019s handheld 3D scanning technology to our portfolio of cutting-edge data capture solutions<\/a>.<\/p>\n

\u201cFARO now offers the industry\u2019s broadest set of 4D data capture solutions, including 360\u00b0 camera-based images<\/a>, mobile scanning and stationary high-accuracy laser scanning, allowing customers to balance the need for accuracy, speed and detail depending on their requirements.<\/p>\n

“These capture technologies provide the foundation for our 4D digital reality-based SaaS offering that will allow customers to access multiple 4D data sources for visualization and analysis through a single user experience. We welcome the GeoSLAM team to our FARO family.\u201d<\/p>\n

\u201cJoining with FARO represents the next step in the growth of GeoSLAM and the establishment of mobile mapping as a driver for growth in the way businesses map and understand their spaces,\u201d added Andy Parr, GeoSLAM CEO. \u201cBoth companies share a vision of the importance of mobile scanning in the burgeoning digital reality capture market.\u201d<\/p>\n

GeoSLAM reported \u00a314.5 million in revenue<\/h3>\n

GeoSLAM reported \u00a314.5 million in revenue with 18% EBITDA in the fiscal year ending March 31, 2022.<\/p>\n

EBITDA, a non-GAAP measure, is calculated as net income\/loss before interest (income) expense, net, income tax expense (benefit), foreign exchange rate variance, and depreciation and amortization. The transaction closed on September 1, 2022, funded with available cash reserves and equity consideration.<\/p>\n

Under terms of the agreement, GeoSLAM shareholders received a cash payment of \u00a322.0 million and 495,562 shares of FARO stock that is subject to customary lock-up provisions. FARO expects the acquisition to be accretive to Non-GAAP EPS in 2023.<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

4D reality solutions provider FARO\u00ae Technologies has acquired GeoSLAM, a leading provider of mobile scanning solutions with SLAM software to create 3D models for use in Digital Twin applications.<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[305],"tags":[838,428,576,464,688,172727,796],"stakeholder_rel_tag":[172439],"contributor_rel_tag":[],"class_list":{"0":"post-115018","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-bim-news","7":"tag-3d-scanning","8":"tag-bim","9":"tag-bim-software","10":"tag-contributor-profile","11":"tag-digital-construction","12":"tag-featured","13":"tag-sh-faro","14":"stakeholder_rel_tag-faro"},"acf":[],"yoast_head":"\nFARO acquires mobile scanning solutions provider GeoSLAM<\/title>\n<meta name=\"description\" content=\"FARO has acquired GeoSLAM, a leading provider of mobile scanning 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