Faro has announced the acquisition Open Technologies, located in Brescia, Italy; the acquisition is stated to extends the companies 3D capabilities into dental and across a variety of design driven industries.
Open Technologies offers an integrated suite of industrial products that dramatically reduce time and effort across a variety of product design and inspection applications that include reverse engineering, heritage preservation, product visualization and dimensional measurement. These solutions comprehensively address a variety of market segments including Automotive, Aerospace, Computer Graphics, Furniture, Fashion Design and Public Safety.
Open Technologies also offers a rich portfolio of compact, 3D structured light scanning solutions that specifically enable dentists, dental technicians and orthopedics to leverage the 3D world for the creation of crowns, implants and prosthesis.
“Open Technologies proven core competency in compact, 3D structured light scanning solutions aligns perfectly with our strategic direction,” stated Dr. Simon Raab, FARO’s President and CEO. “We continue to take a leadership position in the integration of visionary 3D technology as a core solution requirement across the breadth of industries where design or reconstruction is considered critical.”
Faro is paying an aggregate purchase price of up to €18.5 million, subject to post-closing adjustments, consisting of €14.5 million paid by FARO to the Sellers upon the closing and a contingent component of up to €4 million, which is payable based upon the achievement of product development milestones over the two-year period following the closing.
For more information: www.faro.com