LAKE MARY, Fla., Aug. 29, 2016 /PRNewswire/ -- FARO® (NASDAQ:
FARO), the world's most trusted source for 3D measurement and imaging solutions for factory metrology, product design,
construction BIM/CIM, public safety forensics and 3D solutions and services applications, announces the acquisition of Laser
Projection Technologies, Inc., a leader in high-speed, long-range 3D laser projection and measurement systems designed for use in
manufacturing applications requiring precise component alignment.
Located in Londonderry, New Hampshire, LPT's line of laser projection and measurement systems
are used throughout manufacturing environments around the globe to maximize productivity and efficiency.
"The acquisition of LPT enhances FARO's robust portfolio of 3D measurement solutions," stated Dr. Simon Raab, FARO's
President and CEO. "In addition to LPT's leading laser projection solutions, we believe LPT's proprietary imaging laser
photogrammetry and imaging laser radar technologies have tremendous potential to disrupt the market by establishing a new class
of high-speed laser measurement with advanced 3D imaging capabilities and we will focus our integration efforts on rapidly
leveraging this potential. This technology is thousands of times faster than currently available Lidar products and has
proprietary imaging features, which provide extraordinary qualitative and quantitative inspection capabilities in every area of
manufacturing. In addition, this promising technology incorporates a well-developed laser projection capability to guide
assembly, making it a fully robotic, high-speed collaborative tool for manual or automated assembly and verification. In this
case, 'seeing' is truly measuring."
To learn more about this technology, along with all of FARO's 3D measurement hardware and software solutions, please visit
FARO at IMTS 2016 September 12 – 17 at McCormick Place in Chicago, Illinois in the East Building
– Quality Assurance Hall in booth E-5825.
This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 that are subject to risks and uncertainties, such as statements about demand for and
customer acceptance of FARO's products, and FARO's product development and product launches. Statements that are not
historical facts or that describe the Company's plans, objectives, projections, expectations, assumptions, strategies, or
goals are forward-looking statements. In addition, words such as "is," "will" and similar expressions or discussions of
FARO's plans or other intentions identify forward-looking statements. Forward-looking statements are not guarantees of
future performance and are subject to various known and unknown risks, uncertainties, and other factors that may cause
actual results, performances, or achievements to differ materially from future results, performances, or achievements
expressed or implied by such forward-looking statements. Consequently, undue reliance should not be placed on these
forward-looking statements.
Factors that could cause actual results to differ materially from what is expressed or forecasted in such
forward-looking statements include, but are not limited to:
- the Company's inability to successfully identify and acquire target companies or achieve expected benefits from
acquisitions that are consummated;
- development by others of new or improved products, processes or technologies that make the Company's products less
competitive or obsolete;
- the Company's inability to maintain its technological advantage by developing new products and enhancing its existing
products;
- declines or other adverse changes, or lack of improvement, in industries that the Company serves or the domestic and
international economies in the regions of the world where the Company operates and other general economic, business, and
financial conditions; and
- other risks detailed in Part I, Item 1A. Risk Factors in the Company's Annual Report on Form 10-K for the year
ended December 31, 2015.
Forward-looking statements in this release represent the Company's judgment as of the date of this release. The
Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new
information, future events, or otherwise, unless otherwise required by law.
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.
FARO's global headquarters are located in Lake Mary, Florida. The Company also has a technology center and
manufacturing facility consisting of approximately 90,400 square feet located in Exton, Pennsylvania containing
research and development, manufacturing and service operations of its FARO Laser TrackerTM and FARO Factory Array
Imager product lines. The Company's European regional headquarters is located in Stuttgart, Germany and
its Asia Pacific regional headquarters is located in Singapore. FARO has other offices in
the United States, Canada, Mexico, Brazil, Germany, the United Kingdom, France, Spain,
Italy, Poland, Turkey,
the Netherlands, Switzerland, India, China, Malaysia, Vietnam, Thailand, South Korea, and
Japan.
More information is available at http://www.faro.com
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SOURCE FARO