AMETEK buys Cognex surface inspection business unit

Berwyn, Pennsylvania – AMETEK Inc. has agreed to acquire the Surface Inspection Systems Division (SISD) of Cognex Corp. for approximately $160 million. The business has annual revenues of $60 million. The closing of the transaction is subject to customary closing conditions, including the receipt of applicable regulatory approvals.

SISD develops and manufactures software-enabled vision systems used to inspect surfaces of continuously processed materials for flaws and defects. Their in-line image processing technology detects, classifies, filters, and accurately maps specific defects over the entire area of the surface. End markets served include metals, paper, nonwovens, plastics and glass. SISD is headquartered in Hayward, California.

Frank S. Hermance, AMETEK chairman and CEO, says, “The Surface Inspection Systems Division of Cognex is a global leader in non-destructive process inspection and expands our presence in this attractive market segment.”

Robert J. Willett, president and CEO of Cognex says, “SISD is a profitable and well-managed business, but it does not fit Cognex’s long-term objectives and business model. With this sale, we can focus all of our efforts on discrete manufacturing where we see continued strong growth for our vision and ID products.”

The SISD business joins AMETEK as part of its Electronic Instruments Group (EIG), which had 2014 sales of $2.4 billion and designs and manufactures advanced instruments for the process, aerospace, power, and industrial markets.

Source: AMETEK, Cognex