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Corporation
SOFTWARE (NON-INTERNET/MOBILE) | Manufacturing, Warehousing & Industrial Software
cognex.com

Partners & Customers

10

About Cognex

Cognex (NASDAQ: CGNX) provides machine vision products and solutions. It offers vision sensors, vision systems, fixed-mount barcode readers, and software products to inspect, identify, and guide parts. It serves industries such as automotive, logistics, food and beverage, and more. The company was founded in 1981 and is based in Natick, Massachusetts.

Headquarters Location

One Vision Drive

Natick, Massachusetts, 01760,

United States

855-426-4639

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Research containing Cognex

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Cognex in 1 CB Insights research brief, most recently on Feb 11, 2022.

Latest Cognex News

Cognex to Buy Moritex Corporation for $275 Million

Sep 16, 2023

Aug. 31, 2023 Cognex Corporation (Natick, MA, USA) announced it will buy Moritex Corporation (Yokohama, Japan) for 40 billion yen, or about $275 million, from Chinese private equity firm TruStar Capital. The cash transaction is expected to close by the end of 2023. Cognex is a global manufacturer of machine vision systems and products, including sensors, bar code readers, software, and other tools. Moritex, also a  global presence, produces machine vision products such as high-spec lenses and industrial lighting solutions; it also produces medical and cosmetic equipment. According to Cognex, this is the largest acquisition the company has ever undertaken. The company has stated that it is seeking to increase its presence in Japan as well as offer a more comprehensive array of machine vision and vision system products to both existing and potential customers. “Expanding into the optics components segment with this acquisition will increase our served market and deepen our penetration of the Japanese machine vision market,” Cognex President/CEO Robert Willet stated. The impending deal does raise a few observations, note some industry insiders. For example, prior to this acquisition, Cognex tended to take an all-in-one In-Sight smart camera approach to its business model, which seems to dominate the U.S. market and simpler vision applications. Moritex, on the other hand, has been a purveyor of a large catalog of lenses and lights, which tend to dominate in other markets and in the machine builder and higher end vision system space. “They both target very different submarkets,” Tom Brennan, president of Artemis Vision (Denver, CO, USA), observes. “Cognex is now going to get into building a lot of specialized hardware, alongside the all-in-one smart cameras.” While there are likely strategic and logistical issues that will have to be resolved, this could enhance Cognex’s ability to offer and implement solutions all in-house. “In my experience a lot of vision systems start as just a smart camera, but you really need a smart camera and a telecentric lens or a smart camera and an additional light,” Brennan says. “They evolve into something that best solves the problem. Previously for Cognex that meant bringing in another vendor, which introduces a different brand. Now with Moritex, it’s still an all-Cognex solution.” The ability to control more elements in-house, such as lighting and optics, could also allow Cognex to reduce costs in their solutions offerings, particularly in a sector such as logistics, says David Dechow, owner of Machine Vision Source (Salisbury, NC, USA). How it will ultimately play out remains to be seen, say industry insiders. Moritex, while known for quality products in the industry and expected to generate 6-8% in revenue for Cognex, is one of a number of companies in the Asian market competing in the optics and lighting space. With the Asian market posting strong numbers for some time and expectations of more of the same for the foreseeable future, it could be profitable to consider increasing presence in that market. Voice Your Opinion To join the conversation, and become an exclusive member of Vision Systems Design, create an account today! Join today!

Cognex Acquisitions

8 Acquisitions

Cognex acquired 8 companies. Their latest acquisition was Moritex on August 29, 2023.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/29/2023

$99M

Acquired

6

12/8/2022

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$99M

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10

10/16/2019

Series C

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$99M

$99M

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10

4/5/2017

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$99M

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10

12/9/2016

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$99M

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10

Date

8/29/2023

12/8/2022

10/16/2019

4/5/2017

12/9/2016

Investment Stage

Series C

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acquired

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Sources

6

10

10

10

10

Cognex Partners & Customers

10 Partners and customers

Cognex has 10 strategic partners and customers. Cognex recently partnered with Industrial Technology Systems on September 9, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

9/4/2020

Partner

United Kingdom

News  >  ITS’ Cognex Partnership Agreement is Extended to Cover Deep Learning.

The 16-year partnership agreement between Industrial Technology Systems Ltd and Cognex has been extended to cover Cognex 's Deep Learning technology suite .

2

8/19/2020

Vendor

United States

Cognex Looks to Medallia to Uncover Customer Sentiment and Deliver Exceptional Experiences

SAN FRANCISCO -- -- Medallia , Inc. , the global leader in experience management , today announced that Cognex Corporation , the world 's leading provider of vision systems , software , sensors and industrial barcode readers used for manufacturing automation , has selected Medallia , Inc. Experience Cloud to gain deeper insights into customer experience and sentiment .

1

4/9/2020

Partner

United States

Spring Automation Becomes a Logistics Partner Integrator for Cognex Corporation.

Nashville , TN -- Thursday , April 9th , 2020 -- Spring Automation , a material handling controls integration company , announced their new partnership with Cognex Corporation .

1

11/22/2019

Partner

France, and Spain

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10

12/11/2017

Partner

United States

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10

Date

9/4/2020

8/19/2020

4/9/2020

11/22/2019

12/11/2017

Type

Partner

Vendor

Partner

Partner

Partner

Business Partner

Country

United Kingdom

United States

United States

France, and Spain

United States

News Snippet

News  >  ITS’ Cognex Partnership Agreement is Extended to Cover Deep Learning.

The 16-year partnership agreement between Industrial Technology Systems Ltd and Cognex has been extended to cover Cognex 's Deep Learning technology suite .

Cognex Looks to Medallia to Uncover Customer Sentiment and Deliver Exceptional Experiences

SAN FRANCISCO -- -- Medallia , Inc. , the global leader in experience management , today announced that Cognex Corporation , the world 's leading provider of vision systems , software , sensors and industrial barcode readers used for manufacturing automation , has selected Medallia , Inc. Experience Cloud to gain deeper insights into customer experience and sentiment .

Spring Automation Becomes a Logistics Partner Integrator for Cognex Corporation.

Nashville , TN -- Thursday , April 9th , 2020 -- Spring Automation , a material handling controls integration company , announced their new partnership with Cognex Corporation .

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Sources

2

1

1

10

10

Cognex Team

8 Team Members

Cognex has 8 team members, including current Chief Executive Officer, President, Robert Willett.

Name

Work History

Title

Status

Robert Willett

Chief Executive Officer, President

Current

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Name

Robert Willett

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Work History

Title

Chief Executive Officer, President

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Status

Current

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Cogniac

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RFLocus

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