Cognex Corporation acquires machine-vision business of Gavitec
DECEMBER 3--Cognex Corporation (Natick, MA; www.cognex.com), supplier of machine-vision systems, has acquired the machine-vision business of Gavitec AG of Aachen, Germany.
DECEMBER 3--Cognex Corporation (Natick, MA;www.cognex.com), supplier of machine-vision systems, has acquired the machine-vision business of Gavitec AG of Aachen, Germany. Under the terms of the acquisition, which closed 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 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 health-care 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.
"This is an important acquisition for Cognex for several reasons," said Robert J. Shillman, Cognex CEO and chairman. "Industrial ID is a rapidly growing market for machine vision, as industries from aerospace to automotive to pharmaceuticals implement new initiatives for product traceability and error-proofing. Gavitec's experience in the design of easy-to-use industrial ID products, combined with Cognex's global sales resources and engineering support, will enable us to provide the best products and services for this growing market."
Shillman continued, "This acquisition is also important because it strengthens Cognex's overall market position in Germany, an important manufacturing center and the largest market for machine vision in Europe."