FARO Acquires SiteScape, a Leader in LiDAR Based Scanning Software

Rhea-AI Summary

FARO Technologies announced the acquisition of SiteScape, a leader in LiDAR 3D scanning software for AEC and O&M markets, on December 1, 2022. This strategic move enhances FARO's Sphere Platform by integrating SiteScape's low-resolution LiDAR capture capability, streamlining various capture methods into a unified platform. The integration aims to expand FARO's reality capture solutions, leveraging the broad market of existing LiDAR-enabled mobile devices. FARO's President and CEO highlighted the potential for significant user benefits from this addition.

Positive

• Acquisition of SiteScape enhances FARO's reality capture solutions.
• Integration streamlines multiple capture methods into a unified platform.
• Expansion of user base due to millions of existing LiDAR-enabled devices.

Negative

• None.

LAKE MARY, Fla., Dec. 1, 2022 /PRNewswire/ -- FARO Technologies, Inc. (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced the acquisition of SiteScape, an innovator in LiDAR 3D scanning software solutions for the AEC and O&M  markets. SiteScape enables LiDAR equipped mobile devices to easily capture indoor spaces digitally, providing a readily available entry-point to scanning physical spaces for a broad range of applications.

Integrating SiteScape's iOS-enabled low-resolution LiDAR capture capability into the FARO Sphere Platform is a further step in streamlining multiple capture methods into a centralized environment to be accessed in a single environment on a single coordinate system. This unique capability enables FARO's construction and facilities customers to access the widest portfolio of reality capture methods in the market, which now ranges from low-resolution Lidar, 360 degree photo, video, mobile mapping and terrestrial laser scanning.

"We are pleased to add SiteScape and its groundbreaking 3D LiDAR scanning software to our portfolio of reality capture solutions," said Michael Burger, FARO President and CEO. "With millions of LiDAR enabled mobile devices already in the market, the addition of SiteScape opens up a significant population of users to the benefits of FARO's reality capture solutions."

"I'm excited to add SiteScape's proprietary software to the FARO family of cloud-based offerings.  FARO accelerates our vision of enabling a broad set of customers with the ability to gain critical insights from their digital reality environments," added Andy Putch, SiteScape CEO.

About FARO
FARO serves the 3D Metrology, AEC (Architecture, Engineering & Construction), O&M (Operations & Maintenance), and Public Safety Analytics markets. For over 40 years, FARO has been a pioneer in #RealityCapture, bridging the digital and physical worlds through data-driven reliable accuracy, precision, and immediacy, providing industry-leading technology solutions that enable customers to measure their world and use that data to make smarter decisions faster. For more information, visit www.faro.com.

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SOURCE FARO

FAQ

What is the significance of FARO's acquisition of SiteScape?

The acquisition enhances FARO's reality capture solutions and expands its market presence.

When did FARO acquire SiteScape?

FARO announced the acquisition on December 1, 2022.

How will SiteScape's technology benefit FARO?

SiteScape's low-resolution LiDAR capture will streamline multiple capture methods into a centralized environment.

What markets does FARO serve?

FARO serves the 3D Metrology, AEC, O&M, and Public Safety Analytics markets.

What capabilities does the FARO Sphere Platform offer after acquiring SiteScape?

The FARO Sphere Platform will offer a wider portfolio of reality capture methods, including LiDAR, 360-degree photos, and mobile mapping.