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Cognex Completes Acquisition of Moritex Corporation

Published: 2023-10-18 20:00:00 ET

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 CorporationCognex 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 CorporationEstablished 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 Head of Investor Relations Cognex Corporationir@cognex.com

Source: Cognex Corporation

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