Faro Technologies Buys 3-D Imaging Company

With the purchase of iQvolution AG of Ludwigsburg, Germany, Faro Technologies Inc. of Lake Mary, Fla., has expanded into the 3-D computer-aided measurement market. The acquired company supplies 3-D laser scanning products and services for such areas as factory planning, quality control, forensic analysis and facility life-cycle management. Its phase-based scanning technology simplifies modeling, maintains image accuracy and operates at higher speeds than time-based scanners.

Valued at approximately $12 million, the transaction comprises 33 percent cash and 67 percent Faro common stock.