Cognex Completes Acquisition of Moritex Corporation
Rhea-AI Summary
Cognex Corporation completes acquisition of Moritex Corporation
10/18/2023 - 04:00 PM
NATICK, Mass. --(BUSINESS WIRE)--
Cognex Corporation (NASDAQ: CGNX), a leader in industrial machine vision, today announced the completion of its acquisition of Moritex Corporation. Cognex Management will further discuss the transaction on its previously announced third quarter earnings conference call on October 31, 2023.
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About Cognex Corporation
Cognex Corporation invents and commercializes technologies that address some of the most critical manufacturing and distribution challenges. We are a leading global provider of machine vision products and solutions that improve efficiency and quality in high-growth-potential businesses across attractive industrial end markets. Our solutions blend physical products and software to capture and analyze visual information, allowing for the automation of manufacturing and distribution tasks for customers worldwide. Machine vision products are used to automate the manufacturing or distribution and tracking of discrete items, such as mobile phones, electric vehicle batteries and e-commerce packages, by locating, identifying, inspecting, and measuring them. Machine vision is important for applications in which human vision is inadequate to meet requirements for size, accuracy, or speed, or in instances where substantial cost savings or quality improvements are maintained.
Cognex is a world leader in the machine vision industry, having shipped more than 4 million image-based products, representing over $10 billion in cumulative revenue, since the company's founding in 1981. Headquartered in Natick, Massachusetts , USA, Cognex has offices and distributors located throughout the Americas , Europe , and Asia . For details, visit Cognex online at cognex.com.
About Moritex Corporation
Established in 1973, Moritex is engaged in the development, manufacture and sale of machine vision optical components such as high-spec lenses and lighting for industrial use. Moritex has established a reputation as an industry leader providing high-quality, standard optical components over its 50-year history. The company develops and sells high-accuracy solutions for equipment manufacturers in a wide range of industrial markets with a strong customer base, including many large, industry-leading multinational companies.
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Nathan McCurren
ir@cognex.com
Source: Cognex Corporation
What is the acquisition that Cognex Corporation completed?
Cognex Corporation completed the acquisition of Moritex Corporation.
When will Cognex Management discuss the transaction?
Cognex Management will discuss the transaction on its third quarter earnings conference call on October 31, 2023.
CGNX Stock Data
Industry
Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables
Sector
Manufacturing
Tags
Electronic Production Equipment, Electronic Technology, Electronic Equipment/Instruments, Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables , Manufacturing
Country
US
About CGNX
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 900,000 vision-based products, representing over $3.5 billion in cumulative revenue, since the company's founding in 1981. headquartered in natick, massachusetts, usa, cognex has regional offices and distributors located throughout north america, japan, europe, asia and latin america. for details visit cognex online at http://www.cognex.com.
