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From Wikipedia: The M107 Long Range Sniper Rifle is a semi-automatic .50 caliber sniper rifle adopted by the US Army in the early 2000s, manufactured by Barrett Firearms Company. It is also sold as the Barrett M107 commercially. It is a new designation of the M82 Special Applications Scoped Rifle (which has also been commercially available from Barrett as the M82 series) in the US military. The M107 is used for traditional sniper tasks, but is especially useful for long-range, counter-sniper, and anti-materiel roles which make use of its tremendous kinetic-energy and range advantages over more traditional smaller bore sniper rifles.
There are no significant differences between the Barrett M82A1M/M82A3 and the M107. However, production M107s appear to have the addition of a rear monopod and there are rumors of internal improvements as well, but information has not been widely available.
The M107 was voted one of 2005's Top 10 Military Inventions by the U.S. Army.