AMETEK Inc. has introduced the completion of its acquisition of FARO Applied sciences. The deal was accomplished at $44.00 per share in money, or round $920 million, web of money acquired. AMETEK’s acquisition was sealed following the approval of FARO shareholders and the receipt of all regulatory approvals.
FARO is understood for offering 3D measurement and imaging options like moveable measurement arms, laser scanners and trackers, and software program options. The corporate boasts annual gross sales of $340 million roughly.
“We’re happy to announce the closing of this extremely strategic acquisition and are excited to welcome the FARO Applied sciences staff to AMETEK,” mentioned David A. Zapico, AMETEK Chairman and Chief Govt Officer. “FARO’s management in 3D metrology and digital actuality options enhances our capabilities in precision measurement and helps our growth into enticing market segments.”
FARO Applied sciences will be part of AMETEK’s Extremely Precision Applied sciences Division inside its Digital Instrument Group.
