Cognex Announces Acquisitions in 3D Vision and in Industrial ID
January 10 2017 - 8:06AM
Business Wire
Cognex Corporation (NASDAQ: CGNX) has announced the recent
acquisition of two technology companies in the fast-growing areas
of 3D vision and industrial ID.
On November 30, 2016, Cognex acquired Boulder, Colorado-based
Chiaro Technologies, maker of an innovative 3D machine vision
sensor called Cloudburst™. Chiaro’s Cloudburst sensor offers
high-speed, real-time 3D image streaming that is useful in
applications where speed is more important than capturing a high
resolution image. The Cloudburst sensor provides Cognex with
technology complementary to the company’s high-performance 3D
sensors, which are used for the most challenging 3D vision
applications.
On December 9, 2016, Cognex also acquired Webscan, a leader in
barcode verification solutions based in Longmont, Colorado.
Webscan’s solution enables manufacturers to ensure that barcodes
marked on packages, parts and components are applied accurately
before items are shipped, and verifies that codes comply with
industry standards.
“These acquisitions add important capabilities in two
high-growth areas of Cognex’s business,” said Robert J. Willett,
President and CEO of Cognex. “The Cloudburst sensor enables Cognex
to address a wider range of applications and price points in the
fast-growing 3D vision market. And the combination of Webscan’s
verification software with our rugged and flexible DataMan® product
line will enable Cognex to provide the industry’s broadest range of
high-performance and easy-to-use verification solutions.”
The purchase of Chiaro was Cognex’s third 3D vision acquisition
during 2016, following the purchase of 3D vision software maker
AQSense in August, 2016, and high-performance 3D vision sensor
manufacturer EnShape in October, 2016.
About Cognex Corporation
Cognex Corporation designs, develops, manufactures and
markets a range of products that incorporate sophisticated machine
vision technology that gives them the ability to
"see." Cognex products include barcode readers, machine
vision sensors and machine vision systems that are used in
factories, warehouses and distribution centers around the world to
guide, gauge, inspect, identify and assure the quality of items
during the manufacturing and distribution
process. Cognex is the world's leader in the machine
vision industry, having shipped more than 1 million vision-based
products, representing over $4 billion in cumulative
revenue, since the company's founding in 1981. Headquartered
in Natick, Massachusetts, USA, Cognex has regional
offices and distributors located throughout
the Americas, Europe and Asia. For details,
visit Cognex online at http://www.cognex.com.
Certain statements made in this news release, which do not
relate solely to historical matters, are forward-looking
statements. These statements can be identified by use of the words
“expects,” “anticipates,” “estimates,” “believes,” “projects,”
“intends,” “plans,” “will,” “may,” “shall,” “could,” “should,” and
similar words and other statements of a similar sense. These
forward-looking statements, which include statements regarding
business and market trends, future financial performance, customer
order rates, the timing of recognition of revenue and collection of
receivables, expected areas of growth, research and development
activities, product mix, future stock repurchases, investments, and
strategic plans, involve known and unknown risks and uncertainties
that could cause actual results to differ materially from those
projected. Such risks and uncertainties include: (1) the loss
of a large customer; (2) current and future conditions in the
global economy; (3) the reliance on revenue from the consumer
electronics or automotive industries; (4) the inability to
penetrate new markets; (5) the inability to achieve significant
international revenue; (6) fluctuations in foreign currency
exchange rates and the use of derivative instruments; (7)
information security breaches or business system disruptions;
(8) the inability to attract and retain skilled employees;
(9) the reliance upon key suppliers to manufacture and deliver
critical components for our products; (10) the failure to
effectively manage product transitions or accurately forecast
customer demand; (11) the inability to design and manufacture
high-quality products; (12) the technological obsolescence of
current products and the inability to develop new products;
(13) the failure to properly manage the distribution of
products and services; (14) the inability to protect our
proprietary technology and intellectual property; (15) our
involvement in time-consuming and costly litigation; (16) the
impact of competitive pressures; (17) the challenges in
integrating and achieving expected results from acquired
businesses; (18) potential impairment charges with respect to
our investments or for acquired intangible assets or goodwill;
(19) exposure to additional tax liabilities; and (20) the
other risks detailed in Cognex reports filed with the SEC,
including its Form 10-K for the fiscal year ended December 31,
2015. You should not place undue reliance upon any such
forward-looking statements, which speak only as of the date made.
Cognex disclaims any obligation to update forward-looking
statements after the date of such statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170110005370/en/
Investor Relations Contact:Susan Conway, 508-650-3353Sr.
Director, Investor Relationssusan.conway@cognex.comorPR
Contact:Robin Pratt, 508-650-3384Corporate
Communicationsrobin.pratt@cognex.com
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