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LAKE MARY, Fla. - AMETEK, Inc. has completed its acquisition of FARO Technologies, a provider of 3D measurement and imaging solutions, according to a press release statement issued Monday. FARO, which has seen its stock surge over 156% in the past year according to InvestingPro data, brings significant market momentum to the deal.
FARO will join Creaform and Virtek as part of AMETEK’s Ultra Precision Technologies Division. The combined entities will offer 3D metrology, laser projection and digital reality solutions across multiple industries. With annual revenue of $341 million and a healthy current ratio of 2.31, FARO brings strong operational metrics to the merger.
The acquisition brings together technologies serving industrial manufacturing, architecture, engineering, construction, public safety, and manufacturing assembly processes. The portfolio includes portable measurement arms, 3D scanners, laser trackers, and laser projectors. InvestingPro analysis reveals 14 key investment tips for FARO, including strong liquidity positions and growth expectations, available to subscribers.
"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," said Peter Lau, President and CEO of FARO Technologies. The company’s gross profit margin stands at 56%, indicating strong operational efficiency.
Fanny Truchon, President of Creaform, added that the combination allows the companies to "offer a truly unique and powerful suite of solutions."
According to the announcement, each brand will continue to operate independently while increasing collaboration to enhance product integration and expand service capabilities.
FARO has provided measurement technology solutions for over 40 years. Financial terms of the acquisition were not disclosed in the statement.
In other recent news, FARO Technologies shareholders have approved the company’s acquisition by AMETEK, Inc., with over 99% of votes in favor of the merger. Under the terms of the agreement, FARO shareholders will receive $44 in cash per share, and the transaction is expected to finalize in the second half of 2025, pending regulatory approvals. FARO has released additional merger disclosures following shareholder lawsuits, clarifying that none of the confidentiality agreements with potential buyers prevented higher offers. The company also reported receiving antitrust clearances from several authorities, although approval in Romania is still pending.
At FARO’s Annual Meeting of Shareholders, Moonhie Chin and Yuval Wasserman were elected to the board, and Grant Thornton LLP was ratified as the independent registered public accounting firm for 2025. The company’s executive compensation package and an amended equity incentive plan were also approved. In response to the acquisition announcement, Needham downgraded FARO’s stock rating from Buy to Hold. Meanwhile, Craig-Hallum raised the price target for FARO shares to $45, maintaining a Buy rating, citing strong first-quarter results and potential future earnings growth.
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