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Metrology

Cognex Acquires DVT

Published: Wednesday, May 11, 2005 - 22:00

Cognex Corp., a leading supplier of machine vision systems, has announced its acquisition of DVT Corp., effective May 9. Under the terms of the agreement, Cognex purchased all the outstanding shares of DVT for approximately $115 million. Cognex will maintain operations at DVT’s facility in Georgia and continue selling and supporting DVT’s vision products through the company’s existing third-party distribution channels.

DVT Corp. is a provider of low-cost, easy-to-use vision systems, selling primarily to the factory floor segment of the machine vision businesses. Its principal product, Legend, is used for inspection and quality control in a wide variety of industries. Cognex designs, develops, markets and manufactures machine vision systems.

“This is the largest acquisition that Cognex has ever completed,” says Robert J. Shillman, chairman and CEO of Cognex. “In terms of price, in terms of revenue, and most importantly, in terms of the positive impact that it will likely have on our company.”

As a result of the acquisition, Cognex expects revenue increases of approximately $15–20 million during fiscal year 2005. For more information, visit www.cognex.com.

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