AMETEK Finalizes US$ 920 Million Acquisition of FARO Technologies

AMETEK Inc, a leading global provider of industrial technology solutions, has officially completed its acquisition of FARO Technologies Inc in a deal valued at approximately US$ 920 million, net of cash acquired. FARO Technologies is widely recognized as a leading provider of cutting-edge 3D measurement and imaging solutions. This includes portable measurement arms, laser scanners, and tracking systems, software solutions, and comprehensive service offerings, catering to a wide spectrum of industries.

Circling back to the acquisition, David A Zapico, Chairman and Chief Executive Officer, AMETEK Inc, views it as a strategic move to improve the company’s footprint in precision measurement. He noted that the acquired company’s expertise in 3D metrology and digital reality solutions will enhance AMETEK’s existing capabilities.

With the acquisition deal now sealed, FARO Technologies will join Creaform and Virtek as part of AMETEK’s Ultra Precision Technologies Division within its Electronic Instruments Group.

“We are excited to join the AMETEK family,” said Peter Lau, President and CEO of FARO Technologies. “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.”

Moreover, the acquisition of a company with a presence in a diverse range of end markets allows AMETEK to expand into attractive market segments. Zapico also expressed enthusiasm in welcoming the FARO team to the AMETEK organization.

Image Source: Magic Wand Media

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