Faro Acquires Swedish Tech Firm
Faro Technologies Inc. acquired Advanced Technical Solutions in Scandinavia AB, a Swedish-based leader in 3D digital twin solution technology.
Founded in 1990, ATS has had particular success in the automotive space where the firm has agreements in place with several well-known global automotive manufacturers. According to the company, the acquisition will integrate ATS software and proprietary Traceable 3D system, which enables highly accurate and repeatable 3D scans, into the Faro Webshare Cloud platform. ATS’ system connects the physical to the digital world and is expected to bolster FARO’s ability to improve customers’ time to decision with 10-times faster 3D imaging at up to 1-millimeter accuracy.
“We believe this acquisition enables Faro with differentiated accuracy and speed, which we believe will accelerate the adoption of digital twin technology. High accuracy 3D digital twin simulations allow capital intensive industries such as automotive and aerospace to meaningfully reduce their time to market and cost,” says Michael Burger, Faro president and CEO. “I welcome the ATS team into FARO and believe they will help accelerate our strategic objective of increasing cloud-based subscription offerings in this sizable market.”
Göran L. Bergqvist, ATS CEO, says, “The ATS team is thrilled to join a 40-year global leader like Faro. Faro’s technology and market presence provides the spring-board to the market adoption of Traceable 3D.” Bergqvist, who co-founded ATS, will continue to lead the ATS operation. The ATS Swedish facility will also act as a Nordic sales and service center for Faro.