Matterport and CGS Partner to Deliver Virtual Training Solutions for Front-line Workers Across the Fortune 500

Rhea-AI Summary

Matterport (Nasdaq: MTTR) has formed a partnership with CGS to integrate digital twins into augmented and virtual reality training solutions for frontline workers. This collaboration aims to enhance training efficiency, reduce costs, and support remote workforce training using CGS's TeamworkAR platform alongside Matterport's photorealistic digital twins. With over 100,000 businesses utilizing Matterport's platform, the solution is expected to significantly accelerate training processes and improve operational effectiveness during workforce shortages.

Positive

• Partnership with CGS enhances Matterport's digital twin applications for corporate training.
• The collaboration aims to significantly reduce training costs and improve efficiency.
• Supports over 100,000 businesses in enhancing their workforce training capabilities.

Negative

• None.

The companies will combine the CGS TeamworkAR™ platform with Matterport’s industry leading digital twins to help customers train workers faster, increase productivity, and reduce costs

SUNNYVALE, Calif., June 14, 2022 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced a technology partnership with CGS, a global provider of applications, enterprise learning, and outsourcing services, to integrate Matterport digital twins in mixed reality environments to deliver augmented and virtual reality training and support solutions for front-line workers. The companies will collaborate to deliver breakthrough corporate training solutions using a completely digital approach powered by CGS’s TeamworkAR training solution and Matterport digital twins. The combined offering will enable large enterprises to train workforces remotely using an exact digital replica of the work environment in immersive 3D. The precision of the virtual experience allows companies to accelerate training procedures, improve the quality of training, while reducing travel and on-premise training costs. 

CGS is an award-winning provider of custom learning and development solutions for dozens of Fortune 500 companies, including McDonald’s, Microsoft, Comcast, Toshiba, Medtronic and Maersk, and is also part of Meta’s exclusive Quest for Business (ISV) Program. The CGS TeamworkAR platform brings real-time digital transformation to onboarding, on-the-job training, learning and support for any company, anywhere. TeamworkAR uses Matterport and its SDKs and API to integrate and create custom content for its customers through AR and enables remote collaboration and virtual assistance for workers across skill levels. The solution helps move a workforce from a virtual training environment to a physical workplace in days rather than weeks or months, increasing productivity and allows their customers to reduce the costs of training-related travel.

“Matterport is the gold standard for digitizing buildings and facilities in the physical world, and today our customers are experiencing the value of their digital twins to train workers and support customers remotely,” said Doug Stephen, President, Enterprise Learning at CGS. “TeamworkAR together with Matterport digital twins enable customers to create more effective and efficient training that minimizes frontline worker downtime and increases capacity. This solution supports our customers in their digital transformation journey, which is now more critical than ever during a global workforce shortage.” 

Matterport’s market-leading spatial data platform transforms any physical space into a dimensionally accurate and photorealistic digital twin, providing customers with unparalleled data insights needed to manage spaces more effectively. More than 100,000 businesses use the Matterport Digital Twin Platform to support their digital transformation initiatives. The company’s cloud solution for the enterprise provides the scalable, highly secure, collaboration and data management platform these customers require. 

“Enabling virtual training and remote project management is a natural extension of the power of our digital twins which are changing the way companies operate,” said Conway Chen, Vice President of Business Development and Alliances at Matterport. “Today, enterprise-level organizations use Matterport digital twins to create virtual experiences that are critical to the success of their operations while taking time and cost out of the equation. Our collaboration with CGS and TeamworkAR will transform the way organizations train, manage, and operate the day they begin using it.” 

Register for the CGS webinar on Enterprise Mixed Reality on June 16, 2022 at 2pm EST that will highlight the partnership between Matterport and TeamworkAR. To learn more about Matterport for enterprise or connect with our sales team, visit matterport.com/enterprise.  

About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 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 visit our Discover page to browse a collection of digital twins captured by our customers. 

©2022 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.

About CGS
For nearly 40 years, CGS has enabled global enterprises, regional companies, and government agencies to drive breakthrough performance through business applications, enterprise learning and outsourcing services. CGS is wholly focused on creating comprehensive solutions that meet clients' complex, multi-dimensional needs, and support clients' most fundamental business activities. Headquartered in New York City, CGS has offices across North America, South America, Europe, the Middle East, and Asia. TeamworkAR, Inc. is a wholly-owned subsidiary of Computer Generated Solutions Canada Ltd. For more information, please visit www.cgsinc.com and follow us on Twitter at @CGSinc and @LearningCGS and on LinkedIn. 

Media Contact:
Tim McDowd
Director, Communications
press@matterport.com 
+1 (650) 273-6999

Investor Contact: 
Soohwan Kim, CFA
VP, Investor Relations
ir@matterport.com

Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the benefits of the business combination, the services offered by Matterport, Inc. (“Matterport”) and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and 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 the expected benefits of Matterport’s partnership with CGS, Matterport’s ability to implement business plans, forecasts, and other expectations in the industry in which Matterport competes, 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 described in documents filed by Matterport 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 Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.

 

FAQ

What is the partnership between Matterport and CGS about?

Matterport has partnered with CGS to integrate digital twins with augmented and virtual reality for improving corporate training solutions.

How does the CGS TeamworkAR platform enhance Matterport's technology?

CGS's TeamworkAR utilizes Matterport's digital twins to create immersive training environments that accelerate training efficiency and reduce costs.

What benefits does the Matterport and CGS partnership provide to businesses?

The partnership aims to enhance training quality, reduce travel expenses, and enable faster onboarding and employee training.

When was the Matterport and CGS partnership announced?

The partnership was announced on June 14, 2022.

How many businesses currently use Matterport's digital twin platform?

Over 100,000 businesses utilize the Matterport Digital Twin Platform.