Faro Technologies (FARO) Acquires Laser Projection Technologies
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
FARO® (Nasdaq: FARO) announces the acquisition of Laser Projection Technologies, Inc., a leader in high-speed, long-range 3D laser projection and measurement systems designed for use in manufacturing applications requiring precise component alignment.
Located in Londonderry, New Hampshire, LPT's line of laser projection and measurement systems are used throughout manufacturing environments around the globe to maximize productivity and efficiency.
"The acquisition of LPT enhances FARO's robust portfolio of 3D measurement solutions," stated Dr. Simon Raab, FARO's President and CEO. "In addition to LPT's leading laser projection solutions, we believe LPT's proprietary imaging laser photogrammetry and imaging laser radar technologies have tremendous potential to disrupt the market by establishing a new class of high-speed laser measurement with advanced 3D imaging capabilities and we will focus our integration efforts on rapidly leveraging this potential. This technology is thousands of times faster than currently available Lidar products and has proprietary imaging features, which provide extraordinary qualitative and quantitative inspection capabilities in every area of manufacturing. In addition, this promising technology incorporates a well-developed laser projection capability to guide assembly, making it a fully robotic, high-speed collaborative tool for manual or automated assembly and verification. In this case, 'seeing' is truly measuring."
To learn more about this technology, along with all of FARO's 3D measurement hardware and software solutions, please visit FARO at IMTS 2016 September 12 – 17 at McCormick Place in Chicago, Illinois in the East Building – Quality Assurance Hall in booth E-5825.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Energy Transfer Partners (ETP) to Acquire PennTex Development (PTXP)
- Basic Energy Services (BAS) Files for Chapter 11 Bankruptcy; Appoints New Chief Restructuring Officer
- Iron Mountain (IRM) Enters Agreement to Sell Iron Mountain Australian Business; Sees non-Cash Impairment in Q3
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!