Cognex To Acquire Moritex Corporation, A Global Leader In Machine Vision Optics Components And Advanced Imaging Solutions - Seite 2

The transaction is expected to close by the end of 2023, subject to customary closing conditions.

Evercore acted as sole financial advisor to Cognex.

About Cognex Corporation

Cognex Corporation invents and commercializes technologies that address some of the most critical manufacturing and distribution challenges. We are a leading global provider of machine vision products and solutions that improve efficiency and quality in high-growth-potential businesses across attractive industrial end markets. Our solutions blend physical products and software to capture and analyze visual information, allowing for the automation of manufacturing and distribution tasks for customers worldwide. Machine vision products are used to automate the manufacturing or distribution and tracking of discrete items, such as mobile phones, electric vehicle batteries and e-commerce packages, by locating, identifying, inspecting, and measuring them. Machine vision is important for applications in which human vision is inadequate to meet requirements for size, accuracy, or speed, or in instances where substantial cost savings or quality improvements are maintained.

Cognex is a world leader in the machine vision industry, having shipped more than 4 million image-based products, representing over $10 billion in cumulative revenue, since the company's founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has offices and distributors located throughout the Americas, Europe, and Asia. For details, visit Cognex online at cognex.com.

Certain statements made in this news release, which do not relate solely to historical matters, are forward-looking statements. These statements can be identified by use of the words “expects,” “anticipates,” “estimates,” “potential,” “believes,” “projects,” “intends,” “plans,” “will,” “may,” “shall,” “could,” “should,” and similar words and other statements of a similar sense. These statements are based on our current estimates and expectations as to prospective events and circumstances, which may or may not be in our control and as to which there can be no firm assurances given. These forward-looking statements, which include statements regarding business and market trends, future financial performance and financial targets, future product mix and offerings, strategic plans, market and growth opportunities, the anticipated benefits of the Moritex acquisition, the anticipated impact of the Moritex acquisition on Cognex’s business and future financial and operating results, and the anticipated closing date for the Moritex acquisition, involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include: (1) the risk that the acquisition of Moritex may not be completed in a timely manner or at all; (2) the difficulty, timing, cost and results of integrating the acquisition of Moritex; (3) the risk that we will not achieve the anticipated benefits of the acquisition of Moritex in a timely manner or at all; (4) the uncertainties as to the impact of the acquisition on our future results of operations, financial condition, strategy, product portfolio and competitive position; (5) the reliance on key suppliers, such as our primary contract manufacturer, to manufacture and deliver products; (6) delays in the delivery of our products, the failure to meet delivery schedules, and resulting customer dissatisfaction or loss of sales; (7) the inability to obtain, or the delay in obtaining, components for our products at reasonable prices; (8) the failure to effectively manage product transitions or accurately forecast customer demand; (9) the inability to manage disruptions to our distribution centers or to our key suppliers; (10) the expected impact of the fire at our primary contract manufacturer’s plant and related recoveries; (11) the inability to design and manufacture high-quality products; (12) the loss of, or curtailment of purchases by, large customers in the logistics, consumer electronics, or automotive industries; (13) information security breaches; (14) the failure to comply with laws or regulations relating to data privacy or data protection; (15) the inability to protect our proprietary technology and intellectual property; (16) the inability to attract and retain skilled employees and maintain our unique corporate culture; (17) the technological obsolescence of current products and the inability to develop new products; (18) the failure to properly manage the distribution of products and services, including the management of lead times and delivery dates; (19) the impact of competitive pressures; (20) the challenges in integrating and achieving expected results from acquired businesses; (21) potential disruptions in our business systems; (22) potential impairment charges with respect to our investments or acquired intangible assets; (23) exposure to additional tax liabilities, increases and fluctuations in our effective tax rate, and other tax matters; (24) fluctuations in foreign currency exchange rates and the use of derivative instruments; (24) unfavorable global economic conditions, including increases in interest rates and high inflation rates; (26) business disruptions from natural or man-made disasters, such as fire, or public health issues; (27) economic, political, and other risks associated with international sales and operations, including the impact of trade disputes with China and the war in Ukraine; (28) exposure to potential liabilities, increased costs, reputational harm, and other adverse effects associated with expectations relating to environmental, social, and governance considerations; (29) stock price volatility; and (30) our involvement in time-consuming and costly litigation or activist shareholder activities; and the other risks detailed in Cognex reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2022 and Form 10-Q for the fiscal quarter ended July 2, 2023. You should not place undue reliance upon any such forward-looking statements, which speak only as of the date made. Cognex disclaims any obligation to update forward-looking statements after the date of such statements.