NATICK, Mass.--(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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170110005370/en/
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
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