News
News
Cognex ‘Sees’ Gains with DVT Acquisition
Published: 10 May 2005
by Staff
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.
