FARO Extends Digital Twin Product Suite with the Acquisition of HoloBuilder, Inc

FARO Technologies, Inc., a global leader in 3D measurement, imaging, and realization solutions for the 3D Metrology, AEC (Architecture, Engineering, and Construction), and Public Safety Analytics industries, announced the purchase of HoloBuilder, Inc. today.

HoloBuilder introduces to FARO its industry-leading photogrammetry-based 3D platform, which provides hardware-agnostic image capture, registration, and viewing to the rapidly increasing Digital Twin sector. HoloBuilder's technology platform, with an initial focus on Construction Management, offers general contractors a solution to easily capture and virtually manage construction progress using off-the-shelf 360° cameras.

HoloBuilder's SaaS platform will complement FARO's highly accurate 3D point cloud-based laser scanning with fast and easy reality-capture photo documentation and remote access capabilities to build the industry's first end-to-end Digital Twin solution—all without leaving the FARO ecosystem. The combined solution will offer comprehensive scanning and image management capabilities for the Digital Twin market, such as robotic assembly 3D simulation, construction management, facility operations and management, and incident pre-planning.

The agreement provided for a cash payout of $34 million to HoloBuilder shareholders. HoloBuilder has $4.0 million in annual recurring revenue as of April 30, 2021, with a compounded yearly growth rate of over 75% since 2019. The transaction was closed on June 4 and was funded with cash reserves available. Alantra served as HoloBuilder's exclusive financial advisor.

About FARO
FARO has been providing industry-leading technology solutions that enable customers to measure their world and then utilize that data to make smarter decisions faster for over 40 years. FARO remains a leader in bridging the digital and physical worlds with data-driven reliable accuracy, precision, and immediacy.

About HoloBuilder
HoloBuilder is a San Francisco-based technology company that designs, develops, and sells enterprise software that uses 360° photographs, machine vision, and artificial intelligence. HoloBuilder has customers in over 35 countries, and users have documented over 28,000 projects to date.