AMETEK acquires FARO Technologies
Industrial technology solutions provider AMETEK Inc. has announced the completion of the acquisition of Faro Technologies Inc., a leading player in 3D measurement, imaging and digital realization. FARO has now become part AMETEK’s Ultra Precision Technologies Division, alongside Creaform and Virtek.
The acquisition, first announced in May this year, sees AMETEK acquiring all outstanding shares of FARO Technologies’ common stock for $44 per share.
Peter Lau, President and CEO of FARO Technologies, commented on the acquisition: “This partnership opens new opportunities for innovation and growth, and we’re excited to work alongside Creaform and Virtek to deliver even greater value to our customers.”
David A. Zapico, AMETEK’s Chairman and Chief Executive Officer, confirmed that “FARO’s leadership in 3D metrology and digital reality solutions enhances our capabilities in precision measurement and supports our expansion into attractive market segments.”
The Ultra Precision Technologies Division now offers 3D metrology, laser projection and digital reality solutions across multiple industries, with a portfolio including portable measurement arms, 3D scanners, laser trackers, and laser projectors. The FARO brand and product lines will continue to exist under AMETEK ownership.
