NATICK, MA, USA October 01, 2009
Cognex Enters the Web Monitoring Business
NATICK, MA, October 1, 2009 — Cognex Corporation (NASDAQ: CGNX) today announced that it has entered the web monitoring business via the acquisition of the web monitoring product line of Monitoring Technology Corporation (MTC), a leading manufacturer of products for monitoring industrial equipment and processes. Under the terms of the deal, which closed on October 1, 2009, Cognex purchased certain assets associated with MTC’s SmartAdvisor™ Web Monitoring System in a cash transaction.
A web monitoring system (WMS) consists of a network of high-speed cameras linked to a computer running specialized software that controls the acquisition, storage and synchronization of video from each of the cameras. The SmartAdvisor Web Monitoring System is complementary to Cognex’s SmartView® Web Inspection System (WIS). When used together the WIS automatically identifies and classifies defects, and the WMS then provides the customer with the ability to determine the root causes of each of those defects so that they can be quickly eliminated.
“This acquisition is an excellent strategic fit with our Surface Inspection Systems Division; the combination of WMS and WIS allows us to provide a fully-integrated system to paper manufacturers and converters around the world,” said Dr. Robert J. Shillman, the Chairman and Chief Executive Officer of Cognex. “We are looking forward to serving SmartAdvisor’s established customer base, which today is primarily in North America, and to quickly expanding the sales of SmartAdvisor globally through our existing worldwide sales and service organization.”
“We are very excited about this expansion of our product line,” said Tom Nash, President of Cognex’s Surface Inspection Systems Division. “By offering an integrated SmartView and SmartAdvisor system, we will be able to provide our global customers with a real-time solution that will help them to increase their production yields and lower production costs by dramatically reducing both scrap and machine downtime.”
About Cognex Corporation
Cognex Corporation designs, develops, manufactures and markets machine vision sensors and systems, or devices that can "see." Cognex vision sensors are used in factories around the world to automate the manufacture of a wide range of items and to assure their quality. Cognex is the world's leader in the machine vision industry, having shipped more than 500,000 machine vision systems, representing over $2.5 billion in cumulative revenue, since the company's founding in 1981. In addition to its corporate headquarters in Natick, Massachusetts, Cognex also has regional offices and distributors located throughout North America, Japan, Europe, Asia, and Latin America. Visit Cognex on-line at http://www.cognex.com/.
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