Ametek, Inc. (AME), a provider of industrial technology solutions, on Tuesday announced a definitive agreement to acquire all outstanding shares of Faro Technologies Inc. (FARO) for $44 per share in cash. The deal is expected to close in the second half of 2025.
Shares of Faro Technologies are surging by around 34% in the pre-market trading.
The deal values FARO at around $920 million in enterprise value and has received unanimous approval from both companies' boards.
The $44 per share in cash represents an approximate 40% premium to FARO's closing price on May 5.
Faro Technologies is based in Florida and is a provider of 3D measurement and imaging solutions for various industries, generating about $340 million in annual sales.
In the pre-market trading, Ametek is 0.45% lesser at $169.50 on the New York Stock Exchange.
In the pre-market trading, FARO is 34.69% higher at $42.36 on the Nasdaq.
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