Berwyn, Pa.-based AMETEK, Inc., completed its acquisition of FARO Technologies, Inc., a leading provider of 3D measurement and imaging solutions, for approximately $920 million, AMETEK announced on Monday.
“We are pleased to announce the closing of this highly strategic acquisition and are excited to welcome the FARO Technologies team to AMETEK,” said David A. Zapico, AMETEK chairman and chief executive officer.
Under the terms of the acquisition, FARO will join AMETEK as part of its Ultra Precision Technologies Division within the latter’s Electronic Instruments Group.
“FARO’s leadership in 3D metrology and digital reality solutions enhances our capabilities in precision measurement and supports our expansion into attractive market segments,” he said.
FARO’s precision manufacturing and digital reality solutions—including portable measurement arms, laser scanners and trackers, software solutions, and comprehensive service offerings—serve a diverse range of end markets. The company had annual sales of approximately $340 million.
FARO, which has its global headquarters in Lake Mary, Fla., also has a technology center and manufacturing facility consisting of approximately 90,400 square feet located in Exton, Pa., containing research and development, manufacturing, and service operations.