By Katherine Hamilton
Ametek has agreed to acquire Faro Technologies in a deal worth $920 million.
Ametek plans to buy all of Faro's shares for $44 apiece, the companies said Tuesday. That represents a 40% premium to Faro's closing price on Monday.
The boards of directors of both companies unanimously approved the deal. It is expected to close in the second half of this year.
Faro provides 3D measurement and imaging solutions. It logged about $342 million in annual sales in 2024. Ametek provides industrial technology and had sales of $6.94 billion last year.
"FARO's differentiated 3D metrology and imaging solutions expand our presence in attractive growth markets," Ametek Chief Executive David Zapico said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 06, 2025 07:51 ET (11:51 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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