News

NATICK, MA -Cognex Corp., a supplier of machine vision systems, has acquired DVT Corp., a privately-held company based in Duluth, GA.

Cognex purchased the outstanding shares of DVT with a cash payment of $104 million made at the closing, and a final payment of up to $11 million in cash to be paid at the end of a one-year escrow period.

Cognex plans to maintain operations at the Georgia facility, and to continue selling and supporting the vision products through DVT's existing third-party distribution channel.

As a result of the acquisition, Cognex expects an increase in its revenue of approx. $15 - $20 million during fiscal year 2005.