COGNEX CORPORATION COMPLETES ACQUISITION OF ACUMEN, INC.NATICK, Mass.--(BUSINESS WIRE)--July 27, 1995--Cognex Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CGNX), the world's leading supplier of machine vision systems, today announced that it has completed its acquisition of Acumen, Inc., a Portland, Oregon-based developer of machine vision systems for semiconductor wafer (1) A small, thin continuous-loop magnetic tape cartridge that has been used from time to time for data storage and specialized applications. (2) The base unit of chip making. It is a slice taken from a salami-like silicon crystal ingot up to 12" (300mm) in diameter. identification. Cognex acquired 100% of the outstanding shares of Acumen for $14 million, which includes $8.5 million in cash in addition to Cognex stock and options valued at approximately $5.5 million. Cognex anticipates writing off a significant portion of the purchase price in the third quarter as a one-time charge for in-process technology. "We are very pleased and excited to welcome Acumen President John McGarry John McGarry (born 1957) is a political scientist from Belfast, Northern Ireland. He is currently Professor of Political Studies and Canada Research Chair in Nationalism and Democracy at Queen's University in Kingston, Ontario. and all of Acumen's employees to the Cognex family," said Dr. Robert J. Shillman, President, Chief Executive Officer, and Chairman of Cognex. "By combining Acumen's powerful technology in wafer identification with Cognex's strong product line and worldwide sales and support network, together we can provide the most extensive product offerings, sales coverage, and support capability in the industry." Cognex Corporation Cognex Corporation is an American corporation that manufactures commercial machine vision systems. Cognex is the world leader in its field, holding an array of patents and employing academic experts. designs, develops, manufactures, and markets machine vision systems, or computers that can "see," which are used to automate a wide range of manufacturing processes where vision is required. Having shipped over 30,000 systems since its founding in 1981, Cognex is the world's leader in the machine vision industry. In addition to its headquarters in Natick, Massachusetts Natick (Pronunciation IPA: /ˈneɪtɪk/) is a town in Middlesex County, Massachusetts, United States. Natick is located near the center of the MetroWest region of Massachusetts, with a population of 32,170 at the , the company has offices throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe, and in Japan and Singapore. Acumen, a division of Cognex located in Portland, Oregon, has shipped over 500 vision systems since its founding in 1991. CONTACT: John J. Rogers, Jr. Vice President and Chief Financial Officer Cognex Corporation (508) 650-3000 |
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