FARO® Expands Presence in Architecture, Engineering and Construction with Acquisition of kubit(TM)
LAKE MARY, Fla. –Â 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 kubitUSA, Inc.
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," statedJay 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
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 inStuttgart, Germany; and its Asia/Pacific regional headquarters inSingapore. 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.
SOURCE FARO Technologies, Inc.
Web Site: http://www.faro.com
