"We are excited to partner with FARO to support our next phase of growth," stated Markus Prenneis, founder and CEO of present4D. "FARO will bring significant value through its global network, as well as its software and industrial technology expertise. The investment proceeds will be used to make the necessary investments in software engineering and product development to accelerate the market penetration of our unique and powerful VR-Suite presentation software. The partnership brings us one step closer to our vision of providing one of the best business solutions for multimedia VR presentations and training environments in the market."

present4D's VR-Suite solution leverages 360° videos and 360° pictures to incorporate point of interest icons, links, audio and objects to provide an immersive VR experience for a variety of business applications. The intuitive concept and functionality of VR-Suite is complementary in combination with FARO's VR-enabled solutions SCENE 7.1 and FARO Zone 3D 2018.

Reed Smith LLP with its offices in Frankfurt and Chicago acted as legal advisor to FARO on the transaction and present4D was advised by Hogan Lovells.

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