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Cognex Acquires Machine Vision Business of Gavitec
December 18, 2003 |Estimated reading time: 1 minute
Natick, Mass. and Aachen, Germany — Cognex Corp. has acquired the machine vision business of Gavitec AG.
Under the terms of the acquisition, which closed on December 1, Cognex purchased both the tangible and intangible assets, and assumed certain liabilities associated with Gavitec's machine vision business for an undisclosed amount of cash.
Gavitec, founded in 1997, produces a wide range of machine vision products for direct part mark reading, a fast-growing application for machine vision systems that can read numbers, letters and symbols that are printed, etched or stamped directly on the surfaces of manufactured items. These specialized vision systems are used by manufacturers to collect data about product components during the product's manufacturing process, and to trace the manufacturing history of the components during the product's lifetime. Direct part marking, also referred to as "industrial ID," is required in a growing number of industries where serial numbers on parts must survive for the life of the part (such as on aircraft components and on certain automotive components).
Gavitec markets its products primarily in Germany; its customers include leading manufacturers in the automotive, electronics, and healthcare industries. Cognex expects to continue to market and sell Gavitec's machine vision products to their existing customer base and to expand the distribution of their products worldwide. Cognex will retain a group of key Gavitec employees in Aachen who will serve as a remote engineering group focused on developing additional products for direct part mark reading.
Cognex Corp. designs, develops, manufactures and markets machine vision systems, or computers that can "see." For more information, visit www.cognex.com.