NATICK, Mass.--(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 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, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170405005796/en/
Cognex Corporation
Investor Relations Contact:
Susan
Conway, 508-650-3353
Sr. Director, Investor Relations
susan.conway@cognex.com
or
PR
Contact:
Robin Pratt, 508-650-3384
Corporate Communications
robin.pratt@cognex.com
Source: Cognex Corporation
News Provided by Acquire Media