- AMETEK (AME, Financial) completes acquisition of FARO Technologies for $44.00 per share, totaling approximately $920 million.
- FARO Technologies, with annual sales of $340 million, will join AMETEK's Ultra Precision Technologies Division.
- FARO's delisting from Nasdaq post-acquisition.
AMETEK (AME) has announced the successful completion of its acquisition of FARO Technologies for $44.00 per share in cash, amounting to approximately $920 million, net of cash acquired. The acquisition, which has gained both shareholder and regulatory approvals, will result in FARO's removal from trading on Nasdaq.
FARO Technologies, previously generating annual revenue of about $340 million, will be integrated into AMETEK's Ultra Precision Technologies Division, housed within the company's Electronic Instruments Group. This strategic acquisition bolsters AMETEK's capabilities in precision measurement, adding FARO's expertise in 3D metrology and digital reality solutions to its portfolio. FARO's product lineup includes portable measurement arms, laser scanners, trackers, and associated software solutions.
The acquisition reflects AMETEK's continued commitment to expanding its operations in precision measurement and capitalizing on FARO's strong presence in diverse end markets. As AMETEK integrates FARO within its operations, the company aims to leverage FARO's advanced technologies to enhance its position in attractive market segments.
