FARO Settles Patent Infringement Suit Against Competitor
Lake Mary, Fla. – May 15, 2003 - FARO Technologies, Inc. announced that it has settled a patent infringement suit filed against a U.S.-based portable measurement arm competitor in the United States District Court for the Middle District of Florida.
FARO filed a suit against this competitor concerning FARO patents covering seven-axis portable articulated coordinate measurement machines (CMMs). Financial terms of the settlement are confidential, but in a significant aspect of the settlement, FARO has reserved its rights to sue the competitor if it introduces any additional seven-axis articulated CMM products (which have other than insubstantial differences from their current product) and to seek appropriate injunctive relief and monetary damages on such future products.
In further resolution of the case, the Court dismissed all of the competitor's claims that the FARO patents were invalid or unenforceable. Accordingly, the FARO seven-axis patents continue to be valid and enforceable.
Faro is a leading manufacturer in the portable articulated CMM marketplace. Its recently introduced Platinum FaroArm, with more than ten patents pending, represents numerous innovations and includes several state-of-the-art seven-axis models with improved ergonomic design and internal counter-balancing, on-board batteries for true portability and infinite rotation at each joint.
"We will continue to invest in the creation and protection of our intellectual property, and at various times we are taking action against infringement in various markets around the world," FARO President & CEO Simon Raab said. "We've led the industry with innovations such as the first three axes ‘at the wrist' for use with a laser scanner probe, and we were the first with an integrated seven-axis arm. We've spent a great deal of time and money creating a complete spectrum of measurement products with the highest proven accuracy and the longest range. Our current product line makes many competitive products obsolete, and in these cases we settle claims quickly and let the market forces work."
About FARO
FARO Technologies, Inc. (NASDAQ: FARO) and its international subsidiaries design, develop, and market software and portable, computerized measurement devices. The Company's products allow manufacturers to perform three-dimensional inspections of parts and assemblies on the shop floor. This helps eliminate manufacturing errors, and thereby increases productivity and profitability for a variety of industries in FARO's worldwide customer base. Principal products include the FARO Gageä, Platinum and Titanium FaroArmsâ, Control Stationâ measurement system, the FARO Laser Trackerâ and a CAM2â family of advanced CAD-based measurement and reporting software. FARO Technologies is ISO 9001 certified and Guide 25 approved. Learn more at www.FARO.com.