University of Wolverhampton School of Architecture and Built Environment selects Matterport digital twin technology to deliver differentiated education experiences
Matterport, a leader in spatial data, has entered a definitive merger agreement with Gores Holdings VI (NASDAQ: GHVI) to go public. The University of Wolverhampton's School of Architecture has adopted Matterport's technology to enhance its educational program, offering 3D visualizations of the new £45 million Springfield Campus. This integration provides students with immersive learning experiences and aids local businesses with efficient management and renovations. Matterport's technology supports heritage preservation and facilitates energy efficiency projects under the EnTRESS program.
- Matterport to become publicly listed through merger with Gores Holdings VI.
- University of Wolverhampton enhances education using Matterport 3D visualizations.
- Technology aids local businesses and enhances estate management efficiency.
- Supports preservation of historical sites using digital twin technology.
- Proposed business combination completion risks could affect Gores' securities pricing.
- Business combination may disrupt Matterport’s existing operations and employee retention.
SUNNYVALE, Calif. and LONDON, June 7, 2021 /PRNewswire/ -- Matterport, Inc., the leading spatial data company driving the digital transformation of the built world, which has entered into a definitive agreement to enter into a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW), has been selected by the University of Wolverhampton (UoW) School of Architecture and Built Environment (SoABE) to enhance its education programme, deliver innovative and COVID-19 safe learning experiences, and streamline its estate and facilities management. SoABE has also chosen Matterport to support a number of local businesses, resulting in significant efficiency savings.
The UoW has created 3D digital visualisations of its new
David Heesom, University of Wolverhampton Reader in BIM modelling, commented: "Matterport is like a time machine, where current and future students can walk through different stages of the construction. Matterport's accuracy, flexibility, affordability and ease of use has proven valuable across our university and our community, with essential renovation works approved on account of Matterport scans. Matterport has helped preserve our community heritage as well. Taking apart a building and reconstructing it in a new location is not a time-tested process but with Matterport, doing this accurately and effectively for historical preservation is suddenly possible. We have a lot of history, and a lot of stories, and Matterport is making preserving these important sites with care a reality."
SoABE has also harnessed Matterport to deliver remote classroom learning experiences during COVID-19 lockdowns and create 3D, dimensionally accurate campus tours for prospective students. As lockdown lifts, SoABE is pioneering the use of Matterport's spatial measurements to safely distance desks and tables in preparation for reopening classrooms and labs at the Springfield campus.
SoABE is also capitalising on Matterport technology to modernise campus management. Digital twins of the site provide detailed information such as plumbing works, enabling Facilities and Estates teams to more effectively plan and manage upgrades like AV installations. Using Matterport, technicians can easily see what is within each wall and analyse where to drill without puncturing vital lines, plumbing or electrical cables. SoABE has also embedded 3D visualisations with detailed labels of specifications, costs, maintenance schedules and videos for more efficient management, collaboration and technician support.
Off-campus, the UoW is using Matterport 3D visualisation and Building Information Modeling (BIM) technologies to create accurate, to-scale 3D of historical sites for local museums as it works to preserve the region's industrial heritage. Matterport digital twins improve the accuracy of historical preservation by enabling sites to be more effectively dismantled, relocated to museums, and authentically reconstructed.
Meanwhile, the UoW School of Architecture's Environmental Technologies and Resource Efficiency Support Services (EnTRESS) programme, which is part-funded by the European Regional Development Fund, is using Matterport for local business support projects, where it works with subject matter experts to improve energy efficiency and sustainability through the adoption of environmental technology. EnTRESS has used Matterport to document recommended building works. This has enabled local businesses to secure approvals for renovation projects which would otherwise have stalled due to pandemic restrictions on in-person site inspections. Using Matterport, EnTRESS also helped a local architect reduce site assessment time for a new Wolverhampton City building by 40 percent.
James Morris Manuel, Managing Director EMEA at Matterport, commented: "Matterport 3D visualisations provide new ways for people to analyse, manage and interact with the built world. Once created, these digital twins can be used for multiple purposes and expanded throughout the community for added benefits. It is exciting to see the University of Wolverhampton harness this to enable university students, employees, and community organisations to design, reconstruct, operate, and promote buildings more effectively. Matterport's 3D and BIM technologies are key tools for advancing architectural learning and supporting the community. Leveraging Matterport paves the way for universities looking to embrace technology that makes an immediate impact for society."
About Matterport
Matterport is leading the digital transformation of the built world. Our groundbreaking spatial computing platform turns buildings into data making every space more valuable and accessible. Millions of buildings in more than 150 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
In February 2021, Matterport announced that it has entered into a definitive agreement to enter into a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, that will result in Matterport becoming a publicly listed company. Upon closing of the proposed business combination, the combined company will be named "Matterport, Inc." and intends to remain listed on NASDAQ under the ticker symbol "MTTR."
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Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed business combination between Gores Holdings VI, Inc. ("Gores") and Matterport, Inc. ("Matterport"), including statements regarding the benefits of the proposed business combination, the anticipated timing of the proposed business combination, the services offered by Matterport and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Gores' or Matterport's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "forecast," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions (including the negative versions of such words or expressions).
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of Gores' securities; (ii) the risk that the proposed business combination may not be completed by Gores' business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Gores; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination, including the approval of the proposed business combination by Gores' stockholders, the satisfaction of the minimum trust account amount following redemptions by Gores' public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the effect of the announcement or pendency of the proposed business combination on Matterport's business relationships, performance, and business generally; (v) risks that the proposed business combination disrupts current plans of Matterport and potential difficulties in Matterport employee retention as a result of the proposed business combination; (vi) the outcome of any legal proceedings that may be instituted against Gores or Matterport related to the agreement and plan of merger or the proposed business combination; (vii) the ability to maintain the listing of Gores' securities on the NASDAQ; (viii) the price of Gores' securities, including volatility resulting from changes in the competitive and highly regulated industries in which Matterport plans to operate, variations in performance across competitors, changes in laws and regulations affecting Matterport's business and changes in the combined capital structure; and (ix) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in Gores final proxy statement/information statement/prospectus contained in the registration statement on Form S-4, including those under "Risk Factors" therein, and other documents filed by Gores from time to time with the U.S. Securities and Exchange Commission (the "SEC"). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Gores and Matterport assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Gores nor Matterport gives any assurance that either Gores or Matterport will achieve its expectations.
Additional Information and Where to Find It
In connection with the proposed business combination, Gores has filed a registration statement on Form S-4 that includes a proxy statement of Gores, an information statement of Matterport and a prospectus of Gores. The proxy statement/information statement/prospectus is not yet effective. The definitive proxy statement/information statement/prospectus, when it is declared effective by the SEC, will be sent to all Gores and Matterport stockholders as of a record date to be established for voting on the proposed business combination and the other matters to be voted upon at a meeting of Gores' stockholders to be held to approve the proposed business combination and other matters (the "Special Meeting"). Gores may also file other documents regarding the proposed business combination with the SEC. The definitive proxy statement/information statement/prospectus will contain important information about the proposed business combination and the other matters to be voted upon at the Special Meeting and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. Before making any voting decision, investors and security holders of Gores and Matterport are urged to read the registration statement, the proxy statement/information statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain important information about the proposed business combination.
Investors and security holders will be able to obtain free copies of the proxy statement/information statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Gores through the website maintained by the SEC at www.sec.gov, or by directing a request to Gores Holdings VI, Inc., 6260 Lookout Road, Boulder, CO 80301, attention: Jennifer Kwon Chou or by contacting Morrow Sodali LLC, Gores' proxy solicitor, for help, toll-free at (800) 662-5200 (banks and brokers can call collect at (203) 658-9400).
Participants in Solicitation
Gores and Matterport and their respective directors and officers may be deemed to be participants in the solicitation of proxies from Gores' stockholders in connection with the proposed business combination. Information about Gores' directors and executive officers and their ownership of Gores' securities is set forth in Gores' filings with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed business combination may be obtained by reading the proxy statement/information statement/prospectus regarding the proposed business combination. You may obtain free copies of these documents as described in the preceding paragraph.
Disclaimer
This document relates to a proposed business combination between Gores and Matterport. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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SOURCE Matterport
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