AMETEK, Inc. announced that it has completed the previously announced acquisition of the Surface Inspection Systems Division (SISD) of Cognex Corporation (NASDAQ: CGNX) for approximately $160 million. Completion of the transaction follows the receipt of all regulatory approvals.
“We are pleased to announce the closing of this strategic acquisition and are excited to welcome the SISD team to AMETEK,” said Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. “SISD’s proprietary real-time image processing technology expands our capabilities in the non-destructive process inspection market. In addition, SISD will be able to leverage AMETEK’s complementary technology and products within its vision systems.”
SISD develops and manufactures software-enabled vision systems used to inspect surfaces of continuously processed materials for flaws and defects. End markets served include metals, paper, nonwovens, plastics and glass. SISD has annual sales of approximately $60 million.
The SISD business joins AMETEK as part of its Electronic Instruments Group (EIG).