Ametek to acquire surface-inspection-systems division of Cognex
Ametek (Berwyn, PA) announced that, pending the customary regulatory approval, it is set to acquire the Surface Inspection Systems Division (SISD) of Cognex Corporation (NASDAQ: CGNX; Natick, MA) for approximately $160 million; the SISD business has annual revenues of $60 million.
SISD develops and manufactures software-enabled vision systems used to inspect surfaces of continuously processed materials for flaws and defects. Their inline image-processing technology detects, classifies, filters, and accurately maps specific defects over the entire area of the surface. End markets served include metals, paper, nonwovens, plastics, and glass. SISD is headquartered in Hayward, CA.
"Among SISD's strengths are its proprietary high-speed defect-recognition technology, software algorithms, and deep applications knowledge base," notes Frank S. Hermance, Ametek's chairman and chief executive officer.
The SISD business joins Ametek as part of its Electronic Instruments Group (EIG), which had 2014 sales of $2.4 billion and which designs and manufactures advanced instruments for the process, aerospace, power, and industrial markets.
Ametek already owns other photonics-related businesses familiar to Laser Focus World subscribers, including active and passive vibration-isolation-system and optical-table maker TMC (Peabody, MA), optical-metrology instrument and optical-component maker Zygo (Middlefield, CT), single-point diamond-turning machine maker Precitech (Keene, NH), and high-speed digital-imaging-systems maker Vision Research (Wayne, NJ).
Source: Ametek
This article was originally published on 6/8/2015