Cognex Acquires Maker of Deep Learning Software for Industrial Machine Vision
April 05 2017 - 9:29AM
Business Wire
Cognex Corporation (NASDAQ: CGNX) announced today that it has
acquired ViDi Systems SA, a maker of deep learning software for
industrial machine vision. The acquisition was completed on April
4.
ViDi’s deep learning software uses artificial intelligence
techniques to improve image analysis in applications where it is
difficult to predict the full range of image variations that might
be encountered. Using feedback, ViDi’s software trains the
system to distinguish between acceptable variations and
defects.
“The ViDi team is at the forefront of applying deep learning
techniques to the real-world challenges of industrial machine
vision,” said Robert J. Willett, President and CEO of Cognex. “We
are excited to bring this expertise to Cognex to broaden the scope
of applications that can be addressed at a world-class level with
Cognex vision.”
Upon closing, ViDi Systems became part of Cognex’s Vision
Products business unit, where their deep learning software will
continue to be developed and integrated into the Cognex product
portfolio. The transaction is not expected to have a material
impact on Cognex’s financial results in 2017 or 2018.
ViDi Systems, based in Villaz-St.-Pierre Switzerland, was
founded in 2012 by Dr. Reto Wyss, a computational neuroscience
Ph.D., and the CPA Group, a Swiss industrial holding company and
business incubator. Dr. Wyss and ViDi’s team of engineers joined
Cognex at the time of the closing on April 4, and Cognex will
maintain operations at the company’s current site in
Switzerland.
About Cognex CorporationCognex 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, expected areas of growth, emerging markets, future
product mix, research and development activities, further 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,
2016. 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/20170405005796/en/
Cognex CorporationInvestor 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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