SOURCE: Fakespace

November 15, 2005 09:00 ET

Mechdyne Corporation, Parent Company of Fakespace Systems Inc., to Acquire Visualization Pioneer VRCO, Creating Comprehensive Visual Solutions Company

New Visualization Powerhouse Offers One-Source Professional Services, Software Consulting and Application Development as Well as Visual Display Systems

MARSHALLTOWN, IA -- (MARKET WIRE) -- November 15, 2005 -- Today, at Supercomputing 2005, Mechdyne Corporation announced it will acquire VRCO Inc., a developer of interactive 3D visualization software. The addition of VRCO's rich history and expertise, in conjunction with Mechdyne's acquisition of Fakespace Systems in 2003, reaffirms the company's position as the world's largest and most comprehensive dedicated visualization company, with a reputation for exceptional services and support, the industry's most recognizable brands and the world's largest installed base of advanced visualization users.

"In the 1990s, Fakespace and VRCO commercialized the technologies that introduced the world to immersive and interactive visualization. Today, our products help designers, engineers and researchers work with highly complex computer-generated data in new and intuitive ways," said Chris Clover, President and CEO of Mechdyne Corporation and Fakespace Systems Inc. "The deal brings together two pioneering and innovative companies to form the world's premier provider of consulting services, software and visual systems development."

VRCO's software toolkits, end-user applications, and professional services are a synergistic fit with ongoing efforts by Fakespace to develop enabling software which targets interactive, large-scale visualization systems. For example, Fakespace recently introduced Conduit™, a graphics distribution middleware that can make virtually any graphics based software application VR-aware and cluster computing compatible. The benefits of the software products from both companies include shortened design cycles, improved collaboration and increased data insight. Fakespace Systems' broad portfolio of visualization systems includes the highly popular FLEX™, reconfigurable immersive environment, PowerWall™ high resolution displays and the Beacon™ line of cost effective projection technologies. Major Fakespace and VRCO customers include Los Alamos National Labs, Boeing, Purdue University, Petronas, NASA, Chevron, and numerous universities and research laboratories throughout the world.

"VRCO and Fakespace have been strategic partners for almost a decade and this merger was the logical next step for enhanced growth of our companies," said Cathy Lascara, Chief Operating Officer of VRCO. "We are anxious to apply our collective capabilities to meet the real world challenges of our customers in an unprecedented manner."

Mechdyne will maintain the VRCO brands and its offices in Virginia Beach. Fakespace and VRCO staff will be integrated under the Mechdyne parent company with the Fakespace division focused on large-scale visualization system integration and VRCO focused on software products and services. Together, the two companies will form the foundation of "Mechdyne Solutions," an organization dedicated to providing its customers with world-leading turnkey systems, software, and services. Senior executives from VRCO will retain their roles in the VRCO management team.

About Mechdyne Corporation

Mechdyne Corporation, along with its subsidiaries, is the world's largest company dedicated to consulting and development of immersive, networked and collaborative visualization systems. Mechdyne Solutions addresses complex projects where an in-depth understanding of user requirements leads to the development of customized solutions involving elements of visual, software and support systems. Its subsidiary Fakespace Systems provides advanced display technology and enabling software while another subsidiary, VRCO Inc., specializes in consulting and related immersive and interactive software development. Headquartered in Marshalltown, Iowa, Mechdyne's customers include leading government laboratories, military research programs, energy companies and unique applications of visualization technology. More information on Mechdyne Corporation is available at www.mechdyne.com.

About Fakespace Systems Inc.

Fakespace Systems Inc. designs and manufactures advanced interactive visualization systems, develops custom software applications, and integrates complete enterprise-wide solutions. Interactive visualization improves collaboration, discovery and learning for applications in automotive, aerospace, biotechnology, education, federal government, geophysical exploration, manufacturing, scientific research, and virtual prototyping. Fakespace is headquartered in Marshalltown, Iowa, USA. The company has global office locations in Canada, Europe, Asia and across the USA. More information on Fakespace is available at www.fakespace.com.

About VRCO Inc.

VRCO (www.vrco.com) is an acknowledged leader in the data visualization market. The company designs and develops software that enables scientists, engineers, military, and business professionals to integrate massive quantities of data from disparate data sets into three-dimensional visual representations. As a result, these customers are able to understand and analyze the data more effectively than otherwise possible, gain new and unique insights, and make faster, more effective decisions. VRCO is headquartered in Virginia Beach, Virginia, with a global distribution of reselling partners.

™ and ® -- Conduit, FLEX, PowerWall, Beacon and the phrase, "Collaborate. Discover. Learn." are trademarks of Fakespace Systems, Inc. All other trademarks are the property of their respective owners.

Contact Information

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