Ametek Inc. , a global leader in electronic instruments and devices, today announced it has reached an agreement to acquire FARO Technologies , a leading provider of 3D measurement and imaging systems, for an enterprise value of approximately $920 million.

Under the terms of the agreement, Ametek will acquire FARO for $44 per share in cash, representing a 40% premium over FARO's closing price on Monday. As a result of the announcement, FARO’s shares surged by 34% on Tuesday.

Both Ametek and FARO's boards of directors have unanimously approved the transaction, which is expected to close in the second half of 2025, subject to shareholder and regulatory approvals.

Ametek, headquartered in Berwyn, Pennsylvania, serves industries including aerospace, power, and manufacturing, and is known for its high-performance electronic instruments. The acquisition of FARO will strengthen Ametek’s Ultra Precision Technologies division by integrating FARO’s renowned 3D measurement and imaging solutions.

"Ametek is excited to acquire FARO, a company with exceptional technology that complements our Ultra Precision Technologies division," said David Zapico, CEO of Ametek. "FARO’s advanced 3D metrology and imaging solutions will expand our presence in high-growth markets and enhance our capabilities to serve a diverse range of industries."

Headquartered in Lake Mary, Florida, FARO specializes in portable measurement arms, laser scanners, and tracking systems, which are used across various industries, including automotive, aerospace, and construction. FARO’s annual sales are approximately $340 million.

FARO President and CEO Peter Lau expressed confidence that the deal would accelerate the company’s growth and innovation. "With Ametek’s global scale, operational excellence, and commitment to innovation, we are excited to continue delivering cutting-edge solutions to our customers," said Lau.

Ametek, which has been publicly traded for over 90 years, generates $7 billion in annual sales and has a strong track record of growth through strategic acquisitions. Notable recent acquisitions include Paragon Medical in 2023 for $1.9 billion and Abaco Systems in 2021 for approximately $1.35 billion.

Details regarding counsel for the transaction were not immediately available.