$43.990
+0.211 (+0.48%)At close
FARO News
FARO Events
Ametek completes acquisition of Faro Technologies for $920M
Ametek has completed its acquisition of Faro Technologies for $44.00 per share in cash, or approximately $920M, net of cash acquired. The completion of the transaction follows approval from Faro shareholders and the receipt of all regulatory approvals. As a result of the completion of the merger, the common stock of Faro will no longer be listed for trading on Nasdaq. Faro joins Amtek as part of its Ultra Precision Technologies Division within Amtek's Electronic Instruments Group. Faro had annual sales of approximately $340M.
Faro Technologies shareholders approve acquisition by Ametek
Faro Technologies (FARO) announced that at the company's special meeting of shareholders, Faro shareholders approved the previously announced acquisition of the company by Ametek (AME). Upon consummation of the merger, Faro shareholders will receive $44 in cash for each share of Faro common stock. The transaction is expected to close in the second half of 2025, subject to customary closing conditions, including the receipt of applicable regulatory approvals.
Ametek to acquire Faro Technologies for $44 per share in cash
Ametek (AME) and Faro Technologies (FARO) announced that they have entered into a definitive agreement under which Ametek will acquire all outstanding shares of FARO Technologies common stock for $44 per share in cash, which represents an approximate 40% premium to FARO's closing price on May 5, 2025. The transaction values FARO at an enterprise value of approximately $920M. The boards of directors of both companies have unanimously approved the transaction. The closing of the transaction is subject to customary closing conditions, including applicable regulatory approvals. The closing of the transaction is also subject to approval of FARO Technologies shareholders. The transaction is expected to be completed in the second half of 2025.
Faro Technologies sees Q2 non-GAAP EPS 20c-40c vs. 18c last year
Sees Q2 revenue $79M-$87M vs. $82.08M last year.
Faro Technologies reports Q1 non-GAAP EPS 33c vs. 9c last year
Reports Q1 revenue $82.9M vs. $84.24M last year. "We're very pleased with our strong start to the year, with our first quarter financial results exceeding our expectations and reflecting the successful execution of our strategic growth initiatives," said CEO Peter Lau. "Q1 was an inflection point for FARO, with increasing traction from refreshed products, coupled with the introduction of new solutions and the signing of two impactful partnerships contributing to 6% year-over-year net orders growth. As a result, we delivered GAAP net income of $0.9M and $12.5M of adjusted EBITDA, or 15.0% of revenue, surpassing our forecasts. As we look ahead, we remain focused on executing our growth strategy, even amidst continued macroeconomic uncertainty. Our recent product launches, including the Leap ST in January for metrology workflows and Blink last week for digital reality workflows, expand our addressable opportunity and we believe position us well to drive sustained, long-term organic growth."
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