Further to our post of 25 July 2016 on Metrology and Technology its not surprising to see more take-overs in the metrology products sector. Today we read that Faro Technologies Inc. from Lake Mary, FL has taken over the leading US-developer of advanced 3D templating products LPT of Londonderry, NH and one of our key partners at Met Optix. See report in the StreetInsider.com here.
This acquistion by Faro follows on from the previously announced acquisition of Canadian 3D metrology software developer – BuildIT of Montreal last month.
The industry will no doubt go through further rationalisation and change as the leading metrology groups such as Hexagon, Carl Zeiss and Faro Technologies strive for growth through acquisition rather than through organic growth with the slow down in global economic activity.
These changes whilst challenging to a number of participants in the market in the short term, will over time, produce better outcomes for customers with the smaller acquired businesses able to grow and further exploit their proprietary technologies with better access to funding.