The integration between the Matterport and PTC Vuforia platforms fuels innovative applications from industrial to retail.SUNNYVALE, Calif., July 13, 2021 — (PRNewswire) — Matterport, Inc., the leading spatial data company driving the digital transformation of the built world, which has entered into a definitive agreement for a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW), today announced its platform integration with the PTC (NASDAQ: PTC) Vuforia Engine™ and Vuforia Studio™ augmented reality (AR) software offerings available within the Vuforia ® Enterprise Augmented Reality Suite.
Customers can now enrich digital twins captured with the Matterport platform with interactive AR experiences called Area Targets. This new functionality from PTC, combined with Matterport's dimensionally-accurate spatial data, enables customers to drop into an exact location of an immersive 3D environment and access experiences such as wayfinding, virtual training, real-time information retrieval, and more.
Offices, stores, factory floors, apartments, and museums are ideal spaces for Area Targets. Companies in a wide range of industries can realize a wide range of benefits using AR visualizations within 3D digital twins, from the creation of engaging customer experiences to the increase of operational efficiencies and workforce productivity.
"PTC is excited to offer a joint solution with Matterport that gives customers a highly visual and interactive way to deliver digital content onto the environments captured by the Matterport platform," said Michael Campbell, Executive Vice President and General Manager, Augmented Reality Products, PTC. "Applications using Area Targets can leverage real-time navigation and viewing of in-context IoT data available on-demand on the factory floor. This enables customers to increase workforce efficiency and improve training times."
Hundreds of thousands of subscribers around the world have brought more than five million spaces online to date with the Matterport platform to access, manage and utilize them more effectively. The company has extended its market reach from real estate to include architecture, engineering and construction; retail; insurance and restoration; travel and hospitality; and facilities management.
"Partnering with PTC has resulted in a game-changing offering that will fuel innovation across many industries," said Japjit Tulsi, Chief Technology Officer of Matterport. "It's exciting to see how developers are using Matterport, the Vuforia Engine, and Area Targets to create highly engaging 3D experiences that generate meaningful ROI for customers."
Matterport is leading the digital transformation of the built world. Our groundbreaking spatial computing platform turns buildings into data making every space more valuable and accessible. Millions of buildings in more than 150 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
©2021 All rights reserved. Matterport is a registered trademark of Matterport, Inc., and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.
PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don't just imagine a better world, we enable it.
PTC, Vuforia, Vuforia Engine, Vuforia Studio, and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or its subsidiaries in the United States and other countries.
Matterport Global Communications Manager
+44 203 874 6664
PTC Corporate Communications
Soohwan Kim, CFA
VP, Investor Relations
This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed business combination between Gores Holdings VI, Inc. ("Gores") and Matterport, Inc. ("Matterport"), including statements regarding the benefits of the proposed business combination, the anticipated timing of the proposed business combination, the services offered by Matterport and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Gores' or Matterport's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "forecast," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions (including the negative versions of such words or expressions).Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of Gores' securities; (ii) the risk that the proposed business combination may not be completed by Gores' business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Gores; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination, including the approval of the proposed business combination by Gores' stockholders, the satisfaction of the minimum trust account amount following redemptions by Gores' public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the effect of the announcement or pendency of the proposed business combination on Matterport's business relationships, performance, and business generally; (v) risks that the proposed business combination disrupts current plans of Matterport and potential difficulties in Matterport employee retention as a result of the proposed business combination; (vi) the outcome of any legal proceedings that may be instituted against Gores or Matterport related to the agreement and plan of merger or the proposed business combination; (vii) the ability to maintain the listing of Gores' securities on the NASDAQ; (viii) the price of Gores' securities, including volatility resulting from changes in the competitive and highly regulated industries in which Matterport plans to operate, variations in performance across competitors, changes in laws and regulations affecting Matterport's business and changes in the combined capital structure; and (ix) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that are described in Gores' final proxy statement/prospectus contained in the registration statement on Form S-4, including those under "Risk Factors" therein, and other documents filed by Gores from time to time with the U.S. Securities and Exchange Commission (the "SEC"). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Gores and Matterport assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Gores nor Matterport gives any assurance that either Gores or Matterport will achieve its expectations.