FARO Acquires GeoSLAM
LAKE MARY, Fla., Sept. 12, 2022 — 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.
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Published: September 2022
Glossary
- machine vision
- Machine vision, also known as computer vision or computer sight, refers to the technology that enables machines, typically computers, to interpret and understand visual information from the world, much like the human visual system. It involves the development and application of algorithms and systems that allow machines to acquire, process, analyze, and make decisions based on visual data.
Key aspects of machine vision include:
Image acquisition: Machine vision systems use various...
- scanning
- The successive analysis or synthesizing of the light values or other similar characteristics of the components of a picture area, following a given method.
- digital twin
- A digital twin refers to a virtual representation or digital counterpart of a physical object, system, or process. This digital replica is created using real-time data and simulation models, allowing for the monitoring, analysis, and optimization of the corresponding physical entity. Digital twins are used in various industries to gain insights, improve performance, and enhance decision-making processes.
Key characteristics and concepts associated with digital twins include:
Virtual...
Businessmachine visionImagingLasersscanningdigital twinFaro TechnologiesGeoSLAMmobile scanning simultaneous localization and mappingSLAM3Dacquisitionsmergers & acquisitionsAmericasEurope