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Draft:Faro Technologies

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  • Comment: Many of the sources cited (e.g Bloomberg and Reuters) are invalid (404) pages. WormEater13 (talk • contribs) 01:17, 21 September 2025 (UTC)
FARO Technologies, Inc.
Nasdaq: FARO (until 2025)
Industry
Founded1981; 45 years ago (1981)
FoundersSimon Raab
Greg Fraser
Headquarters
Lake Mary, Florida
,
U.S.
Key peoplePeter Lau (President and CEO)[1]
RevenueDecrease US$358.8 million (2023)[2]
Decrease −US$56.6 million (2023)[3]
Number of employees
1,399 (2023)[2]
ParentAMETEK
Websitewww.faro.com

FARO Technologies, Inc. is an American company that develops and sells portable 3D measurement and imaging technology. Formerly a publicly traded company on the NASDAQ, it was acquired by industrial technology conglomerate AMETEK in July 2025 for approximately $920 million.[4] The company's products are used in manufacturing, AEC, and public safety.

History

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FARO was founded in 1981 by Simon Raab and Greg Fraser. The company initially focused on developing articulated measurement arms for medical applications before relocating to Lake Mary, Florida, in 1990 to serve the industrial metrology market. The company was publicly traded on the NASDAQ stock exchange for many years until its acquisition in 2025.

Financial Challenges and Acquisition

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In the years preceding its acquisition, FARO expanded its product line into 3D laser scanning and acquired other technology companies, including GeoSLAM in 2022.[5] The company reported a net loss of $56.6 million on revenue of $358.8 million in its 2023 fiscal year.[3][2]

On July 21, 2025, AMETEK announced it had completed its acquisition of FARO for $44.00 per share in an all-cash deal.[4] Following the acquisition, FARO's common stock was delisted from Nasdaq. The company became part of AMETEK's Ultra Precision Technologies Division.[6] AMETEK stated that the FARO brand and its product lines would continue under the new ownership.[6] Peter Lau continued in his role as President of FARO.[1]

Products and Technology

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FARO's technology portfolio is centered on portable, non-contact and contact 3D measurement devices.

  • Portable Coordinate Measuring Machines (CMMs): Known as the FaroArm, these are articulated arms equipped with probes for high-precision contact measurement and quality inspection.
  • Laser Trackers: These systems measure large-scale objects and assemblies with high accuracy by tracking a mirrored probe, often used for alignment in aerospace and automotive industries.[2]
  • 3D Laser Scanners: The Focus series of scanners capture the geometry of large spaces, such as buildings or crash scenes, by creating a dense point cloud.
  • Software: The company develops proprietary software suites, such as CAM2 for metrology and Scene for scanner data processing.
  1. 1 2 "AMETEK Expands Ultra Precision Technologies Division With Completion of Faro Acquisition". Metrology.news. July 22, 2025. Retrieved September 21, 2025.
  2. 1 2 3 4 "FARO TECHNOLOGIES, INC. FORM 10-K For the fiscal year ended December 31, 2023". U.S. Securities and Exchange Commission. February 22, 2024. Retrieved September 21, 2025.
  3. 1 2 "FARO Announces Fourth Quarter and Full Year 2023 Financial Results" (Press release). FARO Technologies, Inc. February 21, 2024. Retrieved September 21, 2025.
  4. 1 2 "AMETEK Completes Acquisition of FARO Technologies" (Press release). PR Newswire. July 21, 2025. Retrieved October 19, 2025.
  5. ↑ "FARO acquires GeoSLAM to tap into mobile mapping market". Geo Week News. September 1, 2022. Retrieved September 21, 2025.
  6. 1 2 "AMETEK Acquires FARO Technologies". Active Silicon. July 23, 2025. Retrieved October 19, 2025.