FARO Acquires GeoSLAM

4D digital reality technology company FARO Technologies has acquired GeoSLAM, a provider of mobile scanning solutions with proprietary high-productivity simultaneous localization and mapping (SLAM) software to create 3D models for use in digital twin applications. Under the terms of the agreement, GeoSLAM shareholders received a cash payment of £22 million (~$25.5 million) and 495,562 shares of FARO stock that is subject to customary lock-up provisions.

The transaction closed Sept. 1, funded with available cash reserves and equity consideration.