Cognex Enters Into Product Development Agreement With Accu-Sort Systems.Business/Technology Editors NATICK, Mass.--(BUSINESS WIRE)--June 11, 2002 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. (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, announced today that it has entered into a multi-year product development and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and agreement with Accu-Sort Systems, a worldwide provider of automation systems. Under the agreement, Cognex will develop new machine vision products to be used by Accu-Sort to automatically acquire images of packages moving by at high speeds on material handling lines, and then analyze those images in order to perform a variety of tasks. For example, these new systems will be used for determining various physical package features, positioning, OCR OCR in full optical character recognition Scanning and comparison technique intended to identify printed text or numerical data. It avoids the need to retype already printed material for data entry. , OCV OCV Open Circuit Voltage OCV Optical Character Verification (EnSeal proprietary document authentication technology) OCV Out-of-Country Voting OCV On-Chip Variation OCV Oil Control Valve (automotive engines) and pattern matching 1. pattern matching - A function is defined to take arguments of a particular type, form or value. When applying the function to its actual arguments it is necessary to match the type, form or value of the actual arguments against the formal arguments in some definition. . The materials handling Materials handling The loading, moving, and unloading of materials. The hundreds of different ways of handling materials are generally classified according to the type of equipment used. industry has historically used laser scanning systems to read bar code labels on products and packages in order to track them through manufacturing, warehousing, and shipping processes. However, the industry is increasingly turning to the use of video camera-based scanning technology because it can provide additional information on the products that cannot be included in linear or two-dimensional barcodes. Video scanning systems are capable of "seeing" the entire product or package--not just the bar code label. With this added information, the scanner can even check the condition of the package or product to ensure that it is not damaged. "Accu-Sort is the leading supplier of camera-based systems for bar code reading and dimensioning in the material handling industry, and Cognex is the world leader in developing robust machine vision software in a wide range of industries," said David Wurz, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Accu-Sort. "The combination of two vision system leaders brings unmatched experience and expertise to manufacturing, packaging and other industries. We look forward to leveraging Cognex's leading edge vision technology to provide new services and capabilities to our customers." "We are very excited to be working with Accu-Sort on this project, which builds on Cognex's proven expertise in pattern-recognition in high speed applications," said Dr. Robert J. Shillman, Cognex's President, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , and Chairman. "This opportunity is an indication of how machine vision is continuing to expand into new industries and application areas as the technology develops and as the costs come down." Accu-Sort Systems provides engineered solutions for automatic identification and material handling. The company is the world leader in industrial fixed-position line and omnidirectional In all directions. For example, an omnidirectional antenna can transmit or receive signals in all directions. Contrast with directional. See RF. laser bar code and 2D scanning equipment and RFID-based solutions. Through it's AccuVision(R) line of CCD cameras, the company offers the world's leading technology for 2D scanning, OCR, dimensioning and image capture. Also offered is the latest in RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. technology. Accu-Sort's Integrated Systems Group provides a range of comprehensive solutions for distribution, warehousing, manufacturing and data management. Cognex Corporation designs, develops, manufactures, and markets machine vision systems, or computers that can "see." Cognex is the world's leader in the machine vision industry, having shipped more than 150,000 machine vision systems, representing over $1 billion in cumulative revenue, since the company's founding in 1981. Cognex's Modular Vision Systems Division, headquartered in Natick, Massachusetts, specializes in machine vision systems which are used for automating the manufacture of a wide range of discrete items and for assuring their quality. Cognex's Surface Inspection Systems Division, headquartered in Alameda, California, specializes in machine vision systems which are used for inspecting the surfaces of products manufactured in a continuous fashion, such as metals, paper, plastics, and nonwovens. In addition to its corporate headquarters in Natick, Massachusetts, Cognex also has regional offices located throughout North America, Japan, Europe, and Southeast Asia. Visit Cognex on-line at http://www.cognex.com. |
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