MWF-Technology GmbH, based in Frankfurt, Germany, specializes in mobile augmented reality solutions, particularly technology allowing for mobile visualization and real-world comparison of 3D CAD data.
FARO Technologies (NASDAQ:FARO) president and CEO Dr. Simon Raab: "We are very excited about expanding our portfolio of virtual reality solutions into actionable, mobile Augmented Reality with MWF. With the introductions of Mobile AR and VR solutions, we are at a seminal moment where we can enable our customers to evolve their thinking and actions beyond doing it the right way to doing it the best way every time. They will benefit from error detection at even earlier stages of the production, construction or design process. As an industry pioneer, FARO continues to be committed to driving technological innovation that creates increasingly more value for our customers."
FARO (FARO -2.9%) has acquired The CAD Zone, developer of a cloud-based drawing app (CZ Point Cloud) for diagramming crashes and crime scenes. Terms are undisclosed.
FARO notes The CAD Zone's products complement its 3D laser scanners for law enforcement agencies, and says it aims to provide an "integrated 3D documentation product offering." CZ Point Cloud relies on models created by laser scanners from FARO and other firms.
Shares are lower amid a market selloff. They rallied on Wednesday after FARO posted a Q2 beat.