Cognex acquires German lighting firm as part of expansion into EV market
Photo | Grant Welker
Cognex's Natick headquarters
Natick-based machine-vision company Cognex Corp. has acquired German-based lighting technology company SAC Sirius Advanced Cybernetics GmbH.
Cognex plans to feature SAC’s Trevista products with its Vision Pro software offering, including to inspect batteries of electric vehicles. The purchase price was not disclosed.
“Combining SAC’s capabilities with Cognex’s Vision and AI tools will equip us with industry leading computational lighting technology. Lighting is key to battery inspection because it illuminates small defects on surfaces that could result in safety-critical failures if undetected. EV battery inspection is a large, fast-growing market with sophisticated inspection requirements,” said Joerg Kuechen, Cognex’s senior vice president and CTO, in a Thursday press release.
As of 11:20AM, Cognex stock was trading at $49.56 per share on the Nasdaq, up almost 3% from the previous day’s close.The company has a market cap of $8.57 billion and reported more than $1 billion in revenue in 2021.
The Automated Imaging Association says machine vision encompasses all industrial and non-industrial applications in which a combination of hardware and software provide operational guidance to devices in the execution of their functions based on the capture and processing of images, according to the Cognex company website.
SAC was founded in Karlsruhe, Germany in 1996.
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