NATICK, MA -- Ametek has signed a definitive agreement to acquire the assets of Cognex's Surface Inspection Systems division for approximately $160 million in cash.

The transaction is subject to regulatory approval and customary closing conditions. The companies did not immediately project a closing date.

"We are excited about the opportunity to acquire such an outstanding business," said Frank S. Hermance, Ametek chairman and CEO. "The division is a global leader in nondestructive process inspection and expands our presence in this attractive market segment."

“The sale of our Surface Inspection Systems Division is a strategic decision for us,” said Robert J. Willett, president and chief executive of Cognex. “SISD is a profitable and well-managed business, but it does not fit Cognex’s long-term objectives and business model. With this sale, we can focus all of our efforts on discrete manufacturing where we see continued strong growth for our vision and ID products.”

Surface inspection sales were $60 million in 2014, or 12% of Cognex’s total revenue.

The SISD business joins Ametek as part of its Electronic Instruments Group, which had 2014 sales of $2.4 billion. Ametek has been growing through acquisition for years, with EM Test and CA Instruments among its deals.

Cognex entered the surface inspection market in 1996 with the acquisition of Isys Controls, which developed vision systems for defect detection. 

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