Natick machine-vision company Cognex agreed to purchase Japan-based Moritex Corp., a global manufacturer of optical components.
The $275-million, all-cash transaction is expected to close by the end of 2023, according to a Tuesday press release from Cognex. The acquisition is the largest in the company’s history.
“We often note that machine vision functions like the eye and brain of a human: Cognex vision systems are akin to the brain, and Moritex optics, the eye. Bringing these complementary technologies together will streamline the solution we provide our customers, enabling a more advanced and integrated offering.” Cognex President and CEO Robert Willett said in the press release. “Expanding into the optics components segment with this acquisition will increase our served market and deepen our penetration of the Japanese machine vision market.”
The seller is Trustar Capital, an affiliate of CITIC Capital Holdings, headquartered in Hong Kong.
