Day: July 11, 2021

FARO® Technologies, Inc., a leading global provider of 3D measurement, imaging, and realization solutions for the 3D Metrology, AEC (architecture, engineering & construction), and public safety analytics markets, recently announced the acquisition of HoloBuilder, Inc. HoloBuilder brings to FARO its leading photogrammetry-based 3D platform, which delivers hardware agnostic image capture, registration and viewing to the fast-growing Digital Twin market. With an initial focus on construction management, HoloBuilder’s technology platform provides general contractors a solution to efficiently capture and virtually manage construction progress using off-the-shelf 360° cameras. HoloBuilder’s SaaS platform will add fast and easy reality-capture photo documentation and added remote access capability to FARO’s highly-accurate 3D point cloud-based laser scanning to create the industry’s first end-to-end Digital Twin solution – all without leaving the FARO ecosystem. The combined solution will provide comprehensive scanning and image management capabilities for the Digital Twin market including robotic assembly 3D simulation, construction management, facilities operations and management, and incident pre-planning. “The high-value that digitalization brings to the AEC and operations & maintenance (O&M) industries creates significant market opportunity for FARO,” stated Michael Burger, FARO President and CEO, “The addition of HoloBuilder to our offering accelerates the reality of a true end-to-end Digital Twin solution and advances our strategic objective of increased recurring revenue through market share gains in this large and growing segment.” “HoloBuilder and FARO together furthers our vision of digitizing the physical world to enable process automation and workflow optimization,” added Mostafa Akbari-Hochberg, HoloBuilder President & Founder, “The powerful combination of high accuracy laser scanning with real-time 360° photo capture and collaboration will empower both company’s customer bases with a comprehensive Digital Twin solution.” Under terms of the agreement, HoloBuilder shareholders received a cash payment of $34 million. As of April 30, 2021, HoloBuilder had $4.0 million in annual recurring revenue with a compounded annual growth rate of nearly 75% since 2019. The transaction closed on June 4 and was funded with available cash reserves. Alantra acted as exclusive financial adviser to HoloBuilder.  

As video users globally pay closer attention to the manufacturing origins and standards-compliance of their systems, IDIS is highlighting the value of its fully licensed network cameras and recorders that feature H.265 video compression. IDIS was among the first manufacturers to deliver the benefits of H.265 compression to the market as part of its end-to-end DirectIP® solution. The company has confirmed that it has HVEC Advance and H.265 MPEG patent licenses for all its hardware, with licenses dating back to cover all installed systems. IDIS has made extensive use of the H.265 standard since 2016, leveraging it to underpin flexible monitoring solutions using dual codec (H.264/ 265) and hybrid codec to ensure backward compatibility with older monitoring hardware. Combined with IDIS’s own advanced compression technology, IDIS Intelligent Codec, this typically saves up to 70% on storage capacity and lowers bandwidth requirements compared to older high-definition systems that relied on H.264. This approach means IDIS users were among the first to benefit from ultra-high-definition surveillance using 8MP and 12MP cameras, while ensuring fast incident response, smoother searches and minimized distortion when reviewing complex scenes, even from mobile devices. For example, the new IDIS Mobile Plus app – which integrates with the enterprise-level IDIS Solution Suite VMS to allow for more flexible and remote surveillance operations – enables 4K live streaming on remote mobile devices, with high image quality in H.264/ MJPEG and H.265 formats. With Mobile Plus, users can remotely access cameras and NVRs, monitor live video streams, and search recorded footage via their iPhone, iPad, Android phone or tablet – all enabled by advanced compression technologies. “As security and video tech vendors come under increased scrutiny over issues from manufacturing origin and cybersecurity to standards and intellectual property compliance, IDIS can provide full reassurance for customers with its fully-licensed, Korean-made, end-to-end video solutions,” says Joon Jun, President of the IDIS Global Business Division, “From critical infrastructure and banks, to national health services and corporates, IDIS video technology is trusted by major users globally.”