By Will Feuer

Matterport Inc. said agriculture, forestry and construction equipment maker Deere & Co. has agreed to use the company's platform and 3D-capture technology to build a virtual operations center for remote management of more than 60 facilities.

Shares of Matterport rose 6% to $3.25 in premarket trading Thursday. The stock is down about 68% over the past 12 months.

Matterport, a Sunnyvale, Calif.-based geospatial software company which recreates digital twins of real-life spaces with 3D-capture technology, said it will replicate John Deere facilities around the world for remote management.

"We're proud to support John Deere on their journey to reinvent manufacturing operations," Matterport Chief Revenue Officer Jay Remley said. "Our digital twin platform enables companies to reap real productivity gains and cost savings by digitizing their operations for more efficient maintenance, remote monitoring and improved decision making."

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

January 26, 2023 09:37 ET (14:37 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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