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LAKE MARY, Fla. - FARO Technologies, Inc. (NASDAQ:FARO), a technology solutions provider with a market capitalization of $849 million, announced Tuesday that its shareholders have approved the company’s acquisition by AMETEK, Inc. during a Special Meeting of Shareholders. The stock has shown remarkable performance, delivering a 153% return over the past year.
According to preliminary results, over 99% of votes cast at the meeting were in favor of the merger agreement proposal. The transaction required approval from holders of a majority of FARO’s outstanding shares entitled to vote.
Under the terms of the agreement, FARO shareholders will receive $44 in cash for each share of FARO common stock they hold. The transaction is expected to close in the second half of 2025, pending customary closing conditions including regulatory approvals.
FARO Technologies, which provides 4D digital reality solutions, has appointed Evercore as its exclusive financial advisor for the transaction, with Foley & Lardner LLP serving as legal advisor.
The company has been operating for over 40 years, specializing in technology solutions that enable customers to measure physical environments and convert that data into digital format for decision-making purposes.
The announcement comes after FARO filed a proxy statement with the SEC on June 12, 2025, and subsequently distributed it to shareholders ahead of the Special Meeting.
This information is based on a press release statement from FARO Technologies.
In other recent news, FARO Technologies has released supplemental disclosures regarding its planned merger with AMETEK Inc., following shareholder litigation. The disclosures were made in response to lawsuits alleging insufficient information in the merger’s proxy statement. FARO maintains that the claims lack merit but provided additional details to avoid delays. This includes clarifications about confidentiality agreements and executive officer employment terms post-merger. On the regulatory front, FARO has received antitrust clearances from several authorities, with approval in Romania still pending. Meanwhile, analyst firm Needham downgraded FARO’s stock rating from Buy to Hold after the acquisition announcement, citing the current market valuation. Conversely, Craig-Hallum raised its price target to $45, maintaining a Buy rating, citing strong first-quarter results and growth potential. Needham also lifted its price target to $38, highlighting improved earnings and operational efficiency. These developments reflect FARO Technologies’ dynamic market position amid ongoing corporate activities.
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