Berwyn-based Ametek is continuing its strategic growth through acquisitions with the latest purchase of Faro Technologies for $920 million, writes Ryan Mulligan for the Philadelphia Business Journal.
Faro Technologies, based in Lake Mary, Florida, provides 3D measurement and imaging technology such as laser scanners and trackers. Its roughly 1,400 employees will join Ametek’s global workforce of approximately 21,000 spread across 30 countries.
Ametek will acquire Faro Technologies’ outstanding shares at a 40 percent premium over Monday’s closing price, paying $44 per share in cash.
Faro Technologies, which was founded 44 years ago, has annual sales of around $340 million.
Ametek is an industrial technology provider for various industries, including aerospace, healthcare, and energy. The nearly 100-year-old company reported $6.9 billion in net sales in fiscal 2024.
The deal is expected to be finalized in the second half of 2025, pending regulatory approvals.
This is Ametek’s second acquisition this year, and comes after its purchase of Germany-based Kern Microtechnik. In October, Ametek also acquired Canadian firm Virtek Vision.
Faro Technologies ranks among Ametek’s largest acquisitions, along with the $1.35 billion purchase of Abaco Systems four years ago and the $925 million deal for Gatan in 2019.
Read more about Ametek purchasing Faro Technologies, which is based in Florida, in the Philadelphia Business Journal.
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