FARO Announces Acquisition Ff The CAD Zone, Inc.; Expands Presence In The $8.3B Law Enforcement Products And Services Market
FARO Technologies, Inc. (NASDAQ: FARO), the world's most trusted source for 3D measurement, imaging and realization technology, announced it has acquired The CAD Zone, Inc., a leading software provider in the law enforcement accident and crime scene reconstruction market. CAD Zone's point cloud software application will be integrated with FARO's laser scanning technology to provide turnkey solutions for crime scene and other forensic applications.
FARO's continued push into the $8.3 billion law enforcement forensic technologies market supports its implementation of a long-term strategy of expansion into key vertical markets with its disruptive 3D metrology, imaging and realization products.
"We believe CAD Zone's leading software solutions for law enforcement will provide FARO with a compelling integrated 3D documentation product offering," stated Jay Freeland, FARO's President and CEO. "This acquisition is an important part of our strategic focus on penetrating key vertical markets that offer FARO the most market potential. While law enforcement is a relatively small vertical market for FARO today, we believe it represents a significant opportunity for the right 3D documentation solution and our acquisition of CAD Zone takes a major step forward in creating that offering."
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.