SUNNYVALE, Calif. and
LONDON, June 7, 2021 /PRNewswire/ -- Matterport,
Inc., the leading spatial data company driving the digital
transformation of the built world, which has entered into a
definitive agreement to enter into a business combination with
Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW), has been
selected by the University of Wolverhampton (UoW) School of Architecture and
Built Environment (SoABE) to enhance its education
programme, deliver innovative and COVID-19 safe learning
experiences, and streamline its estate and facilities management.
SoABE has also chosen Matterport to support a number of local
businesses, resulting in significant efficiency savings.
The UoW has created 3D digital visualisations of its new £45
million Springfield Campus, where the School of Architecture and
Built Environment is based. Scanning at multiple stages of the
construction process has provided a vital learning tool for
understanding architectural concepts. The 3D visualisations enable
SoABE's 1,600 students across the architecture, construction,
civil engineering and demolition disciplines to virtually
experience the School's major construction phases, providing
unparalleled insight into everything from the steelwork to the
ventilation and heating systems; a level of understanding of the
construction process not previously possible.
David Heesom, University of
Wolverhampton Reader in BIM modelling, commented: "Matterport is
like a time machine, where current and future students can walk
through different stages of the construction. Matterport's
accuracy, flexibility, affordability and ease of use has proven
valuable across our university and our community, with essential
renovation works approved on account of Matterport
scans. Matterport has helped preserve our community heritage
as well. Taking apart a building and reconstructing it in a new
location is not a time-tested process but with Matterport, doing
this accurately and effectively for historical preservation is
suddenly possible. We have a lot of history, and a lot of stories,
and Matterport is making preserving these important sites with care
a reality."
SoABE has also harnessed Matterport to deliver remote classroom
learning experiences during COVID-19 lockdowns and create 3D,
dimensionally accurate campus tours for prospective students. As
lockdown lifts, SoABE is pioneering the use of Matterport's
spatial measurements to safely distance desks and tables in
preparation for reopening classrooms and labs at the Springfield
campus.
SoABE is also capitalising on Matterport technology to
modernise campus management. Digital twins of the site provide
detailed information such as plumbing works, enabling Facilities
and Estates teams to more effectively plan and manage upgrades like
AV installations. Using Matterport, technicians can easily see what
is within each wall and analyse where to drill without puncturing
vital lines, plumbing or electrical cables. SoABE has also
embedded 3D visualisations with detailed labels of specifications,
costs, maintenance schedules and videos for more efficient
management, collaboration and technician support.
Off-campus, the UoW is using Matterport 3D visualisation and
Building Information Modeling (BIM) technologies to create
accurate, to-scale 3D of historical sites for local museums as it
works to preserve the region's industrial heritage. Matterport
digital twins improve the accuracy of historical preservation by
enabling sites to be more effectively dismantled, relocated to
museums, and authentically reconstructed.
Meanwhile, the UoW School of Architecture's Environmental
Technologies and Resource Efficiency Support Services (EnTRESS)
programme, which is part-funded by the European Regional
Development Fund, is using Matterport for local business support
projects, where it works with subject matter experts to
improve energy efficiency and sustainability through the adoption
of environmental technology. EnTRESS has used Matterport to
document recommended building works. This has enabled local
businesses to secure approvals for renovation projects which would
otherwise have stalled due to pandemic restrictions on in-person
site inspections. Using Matterport, EnTRESS also helped a local
architect reduce site assessment time for a new Wolverhampton City building by 40 percent.
James Morris Manuel, Managing
Director EMEA at Matterport, commented: "Matterport 3D
visualisations provide new ways for people to analyse, manage and
interact with the built world. Once created, these digital twins
can be used for multiple purposes and expanded throughout the
community for added benefits. It is exciting to see the University
of Wolverhampton harness this to
enable university students, employees, and community organisations
to design, reconstruct, operate, and promote buildings more
effectively. Matterport's 3D and BIM technologies are key tools for
advancing architectural learning and supporting the community.
Leveraging Matterport paves the way for universities looking to
embrace technology that makes an immediate impact for society."
About Matterport
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.
In February 2021, Matterport
announced that it has entered into a definitive agreement to enter
into a business combination with Gores Holdings VI (NASDAQ: GHVI,
GHVIU, and GHVIW), a special purpose acquisition company sponsored
by an affiliate of The Gores Group, LLC, that will result in
Matterport becoming a publicly listed company. Upon closing of the
proposed business combination, the combined company will be named
"Matterport, Inc." and intends to remain listed on NASDAQ under the
ticker symbol "MTTR."
©2021 Matterport, Inc. All rights reserved. Matterport is a
registered trademark and the Matterport logo is a trademark of
Matterport, Inc. All other marks are the property of their
respective owners.
Matterport Media Contact:
Naomi Little
Global Communications Manager
press@matterport.com
+44 203 874 6664
Investor Contact:
Soohwan Kim, CFA
VP, Investor Relations
ir@matterport.com
Forward-Looking Statements
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 will be
described in Gores final proxy statement/information
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.
Additional Information and Where to Find It
In connection with the proposed business combination, Gores has
filed a registration statement on Form S-4 that includes a proxy
statement of Gores, an information statement of Matterport and a
prospectus of Gores. The proxy statement/information
statement/prospectus is not yet effective. The definitive proxy
statement/information statement/prospectus, when it is declared
effective by the SEC, will be sent to all Gores and Matterport
stockholders as of a record date to be established for voting on
the proposed business combination and the other matters to be voted
upon at a meeting of Gores' stockholders to be held to approve the
proposed business combination and other matters (the "Special
Meeting"). Gores may also file other documents regarding
the proposed business combination with the SEC. The definitive
proxy statement/information statement/prospectus will contain
important information about the proposed business combination and
the other matters to be voted upon at the Special Meeting and is
not intended to provide the basis for any investment decision or
any other decision in respect of such matters. Before making any
voting decision, investors and security holders of Gores and
Matterport are urged to read the registration statement, the proxy
statement/information statement/prospectus and all other relevant
documents filed or that will be filed with the SEC in connection
with the proposed business combination as they become available
because they will contain important information about the proposed
business combination.
Investors and security holders will be able to obtain free
copies of the proxy statement/information statement/prospectus and
all other relevant documents filed or that will be filed with the
SEC by Gores through the website maintained by the SEC
at www.sec.gov, or by directing a request to Gores Holdings
VI, Inc., 6260 Lookout Road, Boulder,
CO 80301, attention: Jennifer Kwon
Chou or by contacting Morrow Sodali LLC, Gores' proxy
solicitor, for help, toll-free at (800) 662-5200 (banks and brokers
can call collect at (203) 658-9400).
Participants in Solicitation
Gores and Matterport and their respective directors and officers
may be deemed to be participants in the solicitation of proxies
from Gores' stockholders in connection with the proposed business
combination. Information about Gores' directors and executive
officers and their ownership of Gores' securities is set forth in
Gores' filings with the SEC. Additional information regarding the
interests of those persons and other persons who may be deemed
participants in the proposed business combination may be obtained
by reading the proxy statement/information statement/prospectus
regarding the proposed business combination. You may obtain free
copies of these documents as described in the preceding
paragraph.
Disclaimer
This document relates to a proposed business combination between
Gores and Matterport. This document does not constitute an offer to
sell or exchange, or the solicitation of an offer to buy or
exchange, any securities, nor shall there be any sale of securities
in any jurisdiction in which such offer, sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/university-of-wolverhampton-school-of-architecture-and-built-environment-selects-matterport-digital-twin-technology-to-deliver-differentiated-education-experiences-301307087.html
SOURCE Matterport