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Faro Acquires Sitescape, A Leader In Lidar Based Scanning Software

Dec 01, 2022•about 3 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

FARO is the leading global source for 3D measurement, imaging and realization technology. For 40 years, FARO has provided industry-leading technology solutions that enable customers to quickly and easily 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.

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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