SUNNYVALE, Calif., June 15, 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), today
announced the appointment of Paul
Thompson as Vice President of Solutions Engineering. Paul
will lead Matterport's new global solutions engineering team which
will engage with partners and customers to help them design and
build unique offerings using Matterport's spatial data and
industry-leading 3D digital twin technology.
Paul brings over 20 years of experience working in solutions
engineering, particularly cloud and geospatial technologies.
He built Google's first specialist Cloud Sales Engineering team to
provide expertise in machine learning, big data, networking and
security as part of the sales process. Additionally, Paul served as
a Technical Strategist in Core Infrastructure for Google's Cloud
platform and was previously Global Head of Sales Engineering for
Google Maps.
"As the trend to digitizing buildings continues, individuals and
businesses are engaging with buildings and spaces in entirely new
ways," said Jay Remley, Chief
Revenue Officer of Matterport. "Paul's strength in delivering
large-scale cloud and geospatial technologies will drive better
experiences for our customers, as they generate unprecedented
insight and value from physical spaces. Paul will also support a
growing ecosystem of Matterport integrations which deliver highly
customized experiences across numerous industries."
Last week, Matterport publicly launched its Platform Partner
Program for businesses looking to create and monetize apps and
integrations with its market-leading platform. In the last six
months, more than 50 partners have signed up to access Matterport's
developer tools, and the platform's expanding ecosystem of
developer partners has created a rich library of apps, add-ons,
customizations, and management tools, which multiple industries can
leverage to enrich and customize any Matterport digital twin based
on their unique needs and use cases.
Matterport's expanding ecosystem offers developer partners
programmatic access to its powerful digital twins to customize and
extend the immersive 3D experience, add new functionality, and tap
directly into the rich spatial data behind every space to analyze
and generate new property insights for a single space or a large
portfolio of buildings. Matterport digital twins include spatial,
dimensional, structural, and rich contextual building information,
as well as 3D mesh data, 2D HDR imagery, point clouds, and
panoramic photospheres.
Founded in 2011, Matterport has defined the spatial data
category for the built world with its market-leading spatial data
platform that transforms any space into an accurate and immersive
digital twin. Matterport provides highly customized solutions for
customers and partners across multiple verticals to more
effectively access, manage and utilize their Matterport digital
twins to deliver greater value. Businesses can leverage
Matterport's spatial data library to build integrations with
anonymized spatial, dimensional, photographic, and contextual
property data of over five million digital twins, as well as 3D
mesh data, point clouds, and panoramic photospheres. Companies can
either integrate digital twins or spatial data into their
solutions, or create application layers and add-ons on top of
digital twins to customize or extend their capabilities.
Hundreds of thousands of customers around the world have brought
more than five million spaces online to date with the Matterport
platform to more effectively access, manage and utilize them. The
company has extended its market reach beyond residential real
estate to include multifamily and commercial real estate;
architecture, engineering and construction (AEC); retail; insurance
and restoration; travel and hospitality; and facilities management.
Matterport primarily operates under a recurring revenue Software as
a Service model, and has grown its subscriber base by more than
500% from the first quarter of 2020 to the first quarter of
2021.
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 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.
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.
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SOURCE Matterport