AMETEK to acquire FARO Technologies in deal valued at $920 million
May 6 (Reuters) - Industrial tools maker AMETEK (AME.N), opens new tab will acquire FARO Technologies at an enterprise value of about $920 million, the two companies said on Tuesday, sending the target firm's shares soaring 36% in early trade.
Under the agreement, AMETEK is offering $44 per share in cash, representing about a 40% premium to FARO's last close. The equity valuation pegs FARO's market value at $846 million.
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The acquisition is expected to be completed in the second half of the year.
FARO Technologies produces 3D measurement and imaging solutions, including portable measurement arms, laser scanners and trackers, among others, and generated about $340 million in sales in 2024.
The transaction will boost AMETEK's portfolio, particularly within its Electronic Instruments division, which produces test and measurement instruments for various sectors, including aerospace, medical, research, power, and industrial markets.
FARO's shares rose to $42.8 a piece before the bell, while AMETEK shares rose marginally.
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