Fakespace Systems and Mechdyne Corporation announce planned merger

NOVEMBER 19--Fakespace Systems Inc. (Kitchener, Ont., Canada) and Mechdyne Corporation (Marshalltown, IA) have signed a letter of intent to merge their businesses by the end of the year.

Nov 19th, 2002

NOVEMBER 19--Fakespace Systems Inc. (Kitchener, Ont., Canada) and Mechdyne Corporation (Marshalltown, IA) 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. Fakespace and Mechdyne are both players in the global marketplace for immersive display systems. With complementary 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.

Chris Clover, the chief executive officer and controlling shareholder of Mechdyne, will continue as CEO of the combined entity. 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.

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 virtual environments provide exceptionally high-resolution stereoscopic viewing that enables engineers, geoscientists and researchers to achieve better insight, communications and collaboration.

The merged company will be headquartered in Marshalltown, IA. Existing offices in Kitchener, Novi, MI, and other parts of North America and Europe will continue to operate. More information on Fakespace Systems is available at www.fakespacesystems.com and information on Mechdyne Corporation can be found at www.mechdyne.com.

More in Scientific & Industrial Research