Faro Acquires Sitescape, A Leader In Lidar Based Scanning Software

Dec 01, 2022•over 2 years ago

Acquiring Company

FARO Technologies

Acquired Company

SiteScape

Lake MarySoftwareInformation Technology

Description

FARO Technologies, Inc. (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced the acquisition of SiteScape, an innovator in LiDAR 3D scanning software solutions for the AEC and O&M markets. SiteScape enables LiDAR equipped mobile devices to easily capture indoor spaces digitally, providing a readily available entry-point to scanning physical spaces for a broad range of applications.

Company Information

Company

FARO Technologies

Location

Lake Mary, Florida, United States

About

For 40 years, FARO has provided industry-leading technology solutions that enable customers to measure their world, and then use that data to make smarter decisions faster. FARO continues to be a pioneer in bridging the digital and physical worlds through data-driven reliable accuracy, precision, and immediacy. For more information, visit www.faro.com.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

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