Expands Global Footprint into Value Added Forensics Services
Lake Mary, Fla., Nov. 15, 2017 — FARO® (NASDAQ: FARO), the world’s most trusted source for 3D measurement and imaging solutions for public safety forensics, announces the acquisition of Dustin Forensics, a digital forensic animation firm based in Adairsville, Georgia. The acquisition of a world-renowned forensics services firm represents the logical next step in actualizing the FARO® vertical business growth strategy.
Dustin Forensics has been led by David Dustin, an innovator in 3D crime and accident scene reconstruction and a pioneer in the legitimatization and admissibility of 3D data as an accepted courtroom tool. David will be taking on the newly created role of Director of Public Safety – Forensics Services.
"We are excited to have Dustin Forensics join the FARO family," stated Jeff Ruiz, Vice President of Public Safety – Forensics. "Their real world expertise will not only strengthen the FARO service portfolio but also extend our reach into the broader markets of public and corporate security where there are significant opportunities to deliver comprehensive 3D scanning services for pre-incident planning, proactive threat assessments, and soft target protection."
"I am thrilled to become a member of the FARO team," commented David Dustin. "With the extensive resources of FARO, we will greatly accelerate our original mission – the advancement of laser scanning technology as it applies to public safety."
"This acquisition, in concert with the recent introduction of FARO Zone 3D and SCENE 7.1 solutions, powerful software platforms specifically developed for forensics, makes a clear statement on our commitment to extending our lead in the global forensics market," added Joseph Arezone, Chief Commercial Officer. "The combination of Dustin Forensics’ and FARO Technologies’ in-depth 3D expertise will enable a leading edge portfolio of new forensics services."
David Dustin will be a featured speaker at the inaugural FARO Public Security and Forensics Conference in Berlin, Germany http://public-safety.faro-europe.com/ beginning November 16, 2017.
About FARO
FARO is the world’s most trusted source for 3D measurement, imaging and realization technology. The Company develops and markets computer-aided measurement and imaging devices and software for the following vertical markets:
• Factory Metrology – High-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes
• Construction BIM-CIM – 3D capture of as-built construction projects and factories to document complex structures and perform quality control, planning and preservation
• Public Safety Forensics – Capture and analysis of on-site real world data to investigate crash, crime and fire, plan security activities and provide virtual reality training for public safety personnel
• Product Design – Capture detailed and precise 3D data from existing products permitting CAD analysis and redesign, after market design and legacy part replication
• 3D Machine Vision – 3D vision for both control and measurement to the manufacturing floor through 3D sensors and custom solutions
FARO’s global headquarters is located in Lake Mary, Florida. The Company also has a technology center and manufacturing facility consisting of approximately 90,400 square feet located in Exton, Pennsylvania containing research and development, manufacturing and service operations of our FARO Laser Tracker™ and FARO Cobalt Array Imager product lines. The Company’s European regional headquarters is located in Stuttgart, Germany and its Asia-Pacific regional headquarters is located in Singapore. FARO has other offices in the United States, Canada, Mexico, Brazil, Germany, the United Kingdom, France, Spain, Italy, Poland, Turkey, the Netherlands, Switzerland, India, China, Malaysia, Thailand, South Korea, Japan, and Australia.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties, such as statements about demand for and customer acceptance of FARO’s products, and FARO’s product development and product launches. Statements that are not historical facts or that describe the Company’s plans, objectives, projections, expectations, assumptions, strategies, or goals are forward-looking statements. In addition, words such as "is," "will" and similar expressions or discussions of FARO’s plans or other intentions identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to various known and unknown risks, uncertainties, and other factors that may cause actual results, performances, or achievements to differ materially from future results, performances, or achievements expressed or implied by such forward-looking statements. Consequently, undue reliance should not be placed on these forward-looking statements.
Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include, but are not limited to:
• development by others of new or improved products, processes or technologies that make the Company’s products less competitive or obsolete;
• the Company’s inability to maintain its technological advantage by developing new products and enhancing its existing products;
• declines or other adverse changes, or lack of improvement, in industries that the Company serves or the domestic and international economies in the regions of the world where the Company operates and other general economic, business, and financial conditions; and
• other risks detailed in Part I, Item 1A. Risk Factors in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 and Form 10-Q for the quarters ended March 31, 2017 and June 30, 2017.
Forward-looking statements in this release represent the Company’s judgment as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, unless otherwise required by law. More information is available at http://www.faro.com