Faro Acquires Dimensional Photonics Technology Rights
May 13, 2008
LAKE MARY, FL, May 5-Faro Technologies Inc., manufacturer of measurement hardware and software solutions, has acquired an exclusive license from Dimensional Photonics International Inc., provider of digital shape scanners, for global rights to develop, manufacture and sell the company’s technology and products. Terms of the agreement were not disclosed.
“This is a perfect fit for Faro, both strategically and operationally,” says Faro President and CEO Jay Freeland. “I have been very open about my desire to expand our noncontact capabilities and DPI’s technology provides us with a one-of-a-kind platform to do so. Their current products are highly applicable to all the existing industrial markets we currently serve, and we will continue to enhance and refine the technology as we move forward.”
Olaf Krohg, chairman and CEO of DPI, agrees, “Faro is a great match for this technology given their significant market presence, depth of technical knowledge, and history of making small technology-driven acquisitions highly successful.”