July 1, 2005
Cognex's vision calls for DVT purchase
Machine vision supplier, Natick, Mass.-based Cognex Corp. will pay $115 million to purchase DVT Corp., a privately-held vision sensor company based in Duluth, Ga.
Cognex plans to maintain operations at DVT's current facility in Georgia and continue selling and supporting the company's vision products through its existing third-party distribution channel.
"This is the largest acquisition that Cognex has ever completed … 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," said Dr. Robert J. Shillman, chairman and chief executive of Cognex.
Cognex expects an increase in its revenue of $15 to $20 million during fiscal year 2005.