Alantra advises HoloBuilder on its acquisition by FARO Technologies
Boston – Alantra, a leading global investment bank and asset management firm, is pleased to announce that HoloBuilder, Inc. has been acquired by FARO Technologies, Inc. (Nasdaq: FARO). The transaction closed on June 4, 2021.
A pioneer in its space, HoloBuilder is a San Francisco-based software firm that provides cutting-edge progress management, process automation and image capture software for construction and other field-intensive industries. HoloBuilder leverages the use of fast, simple, and professional 360° photo documentation, machine vision, and artificial intelligence to create a virtual representation of a job site. HoloBuilder’s solutions are critical to the digitization of the physical world and the creation of ‘Digital Twin’ representations of construction and production sites, the need for which has only accelerated throughout the Covid pandemic as businesses look for remote solutions for on-site project management and inspection. HoloBuilder has customers in over 35 countries and maintains a large R&D presence in Aachen, Germany. To date, users have documented more than 28,000 projects for general contractor clients including Bechtel, Skanska, Kiewit, and Takenaka, as well as enterprises such as Google, Tesla, and Nike.
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.
This transaction adds to Alantra’s credentials in global construction, proptech, and vertical software. The Alantra team advising Holobuilder included Dragan Manoev and Jon Ng.