KITCHENER, Ontario and MARSHALLTOWN, Iowa –
November 18, 2002 – Fakespace Systems Inc. and Mechdyne Corporation today announced that they have signed a letter of intent to merge their businesses by the end of the year. The new company will be a visualization industry powerhouse with unsurpassed depth of experience, the highest quality technical solutions, and a reputation for exceptional service.
Fakespace and Mechdyne are both prominent players in the global marketplace for immersive display systems. With complimentary products, markets, and management teams, the merged company will gain the resources and expertise to best serve the growing worldwide market for advanced visualization solutions in a variety of industries including automotive, manufacturing, military, aerospace, geophysical exploration, biotechnology, and scientific research.
Dr. Chris Clover, the chief executive officer and controlling shareholder of Mechdyne Corporation, will continue as CEO of the combined entity. Ms. Carol Leaman, who is currently the president of Fakespace Systems, will serve as president of the merged company with responsibility for day-to-day operations. The merged company, which will be called Fakespace Systems, plans to continue to expand facilities and representation throughout the world.
“In merging with Fakespace Systems, we provide an unprecedented depth of resources to engineers, geoscientists and researchers working with highly complex computer-generated data,”
said Dr. Clover. “The synergies created in this merger will result in a powerhouse for innovation and service in advanced visualization and will enable us to address expanding markets.”
“This merger is a natural fit for both companies and combining forces will create an exceptionally robust organization,” said Ms. Leaman. “Our many synergies will enable continued innovation and greater ability to meet the growing demand for large-scale visualization.”
Both companies currently provide immersive visualization systems that enable users to work with three-dimensional models and environments as if they really exist in space. The large-scale front and rear-projected displays and walk-in CAVE virtual reality environments provide exceptionally high-resolution stereoscopic viewing that enables engineers, geoscientists, and researchers to achieve better insight, communications, and collaboration.
The merged company will have the largest installed base of visualization systems worldwide and will be headquartered in Marshalltown, Iowa. Existing offices in Kitchener, Ontario, Novi, Michigan, and other parts of North America and Europe will continue to operate. More information on Mechdyne Corporation can be found at www.mechdyne.com.
About Mechdyne Corporation
Mechdyne Corporation is a broad-based technology partner specializing in audiovisual and information technologies (AV/IT), visualization and software solutions, immersive virtual and augmented reality technologies, and technical support services. Headquartered in Marshalltown, Iowa, Mechdyne serves a global client base that includes leading government laboratories, university and research centers, energy, aerospace, manufacturing, and medical organizations, as well as any other user of advanced technology.
Mechdyne Press Contact