On June 7, 2021, HoloBuilder, Inc., a German-American construction technology-startup, announced its acquisition by FARO Technologies, Inc., a global leader of 3D measurement, imaging, and realization solutions for the 3D Metrology, AEC (Architecture, Engineering & Construction) and Public Safety Analytics markets, for $34 million. 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. HoloBuilder has substantial business operations in Germany through its subsidiary, bitstars GmbH. 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. The transaction closed on June 4, 2021.
The WilmerHale team representing HoloBuilder was led by Daniel Zimmermann, Molly Holsinger, Dimitry Lensky, and Frank Wang. Julie Hogan Rodgers and Ben Kelsey advised on tax matters; Kimberly B. Wethly, Scott Kilgore, Andrew Stauber, Julie Murphy, Chris J. Shin and Michael Lenzi advised on executive compensation and employment matters; Ashwin Gokhale advised on intellectual property; Douglas L. Burton advised on real estate; Chalyse Robinson advised on debt-related matters; Peggy Otum advised on environmental matters; Dr. Oliver Fleischmann, Vincent Pál and Edward W. Sharon advised on various regulatory matters; and Dr. Golo Weidman and Tobias Henn generally advised on Germany-related aspects of the transaction.
For more information, read FARO’s press release.