Press release
Cognex To Acquire Moritex Corporation, A Global Leader In Machine Vision Optics Components And Advanced Imaging Solutions
Expansion of product portfolio to include optics components enables a more comprehensive customer offering. Deepens Cognex’s penetration of important,
About this update from Cognex Corporation
[{"type":"text","content":"\n\nExpansion of product portfolio to include optics components enables a more comprehensive customer offering.\n\n\n\n\nDeepens Cognex’s penetration of important, high-growth machine vision market in Japan.\n\n\n\n\nAcquisition price of ¥40 billion (approximately $275 million).\n\n\n\n\nExpected to be accretive to GAAP EPS in 2025.\n\n\n\n NATICK, Mass.--(BUSINESS WIRE)--\nCognex Corporation (NASDAQ: CGNX), a leader in industrial machine vision, today announced it has agreed to acquire Moritex Corporation (Moritex) from Trustar Capital, a private equity affiliate of CITIC Capital Holdings Limited, for ¥40 billion (approximately $275 million), in an all-cash transaction. Moritex is a leading global provider of optics components with a strong presence in Japan.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230829858118/en/\n“At Cognex, we provide manufacturers with the most advanced machine vision solutions. We have long admired, and sold, Moritex optics components as an important element of what we do,” said Robert Willett, President and CEO of Cognex. “We often note that machine vision functions like the eye and brain of a human: Cognex vision systems are akin to the brain, and Moritex optics, the eye. Bringing these complementary technologies together will streamline the solution we provide our customers, enabling a more advanced and integrated offering. Expanding into the optics components segment with this acquisition will increase our served market and deepen our penetration of the Japanese machine vision market.”\n\n\nMoritex 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.\n\n\n“We are excited to join Cognex as we work towards our mission to provide the best optical solutions for our customers. Combining our best-in-class optics components with a global machine vision leader will create new opportunities for growth,” said Takao Sato, Chief Executive Officer, Moritex. “This acquisition will position us to deliver our solutions to Cognex’s broad customer base, providing a more comprehensive machine vision offering. We remain committed to proactively serving and...