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Cognex history
Cognex company history timeline
Cognex marked the year's end by reaching a significant milestone: th e sale of its 200,000th machine vision system, marking $1.5 billi on in cumulative revenue since 1981.
The company produced its first vision system, DataMan, in 1982.
1986: Cognex begins focusing on the development of standardize d machine vision hardware and software for the original equipment man ufacturer market.
In early 1987, the company became profitable for the first time in its history.
Cognex went public on the NASDAQ exchange in 1989, at $1.38 per share.
Cognex ended 1990 with sales of $23.5 million.
In 1993 the Cognex 5000 marked the first advanced vision s ystem for PC/AT bus personal computers.
Finally, the company introduc ed its Windows-based Checkpoint system in 1994.
In 1995 the company acquired Portland, Orego n-based Acumen Inc., a wafer identification technology firm.
In 1995, Cognex purchased Acumen, a United States based developer of wafer identification systems.
In 1996 the company introduced the acuReader/2Dm, a PC plu g-in Data Matrix 2D code reading solution.
1996: Cognex purchases Alameda, California-based Isys Controls , a manufacturer of high-performance surface inspection systems.
Finally, a high-speed, compact industrial machine vision camera called the CVC-1000 was introduced in 1998.
The company ended 1999 with revenue of $152.1 million and net income of $ 30.4 million.
In-Sight 2000 The power of an In-Sight vision system with the simplicity and affordability of a vision sensor
At this ti me, the company's products ranged from the Cognex 1500 system to high er-end applications such as its 2000 and 3000 series.
Acquisition and Expansion: 2000-05
In 2001 the company introduced the In-Sight 1000 and In -Sight 3000 industrial machine vision sensors.
As overall economic conditions soured in late 2001, exacerbated by the terrorist attacks of Septembe r 11, the electronics and semiconductor segments began to decline.
Jim Hoffmaster became Cognex's chief operating officer in 2001, a dif ficult year in the company's history.
In late 2004 Cognex formed two new teams in its Modular Vision System s Division with a goal of devoting resources to new markets for machi ne vision technology, namely early vision technology adopters with st rong growth potential.
2004: Jim Hoffmaster is named company president, becoming the first employee other than Doctor Shillman to hold the title.
In May 2005 Cognex announced that it had acquired one of its main riv als, Duluth, Georgia-based DVT Corporation, for approximately $11 5 million.
Cognex sold off its in-vehicle product in 2007, citing concerns about profitability and intellectual property issues.
In October 2019 Cognex acquired Sualab, a Korean-based developer of vision software using deep learning for industrial applications.
On February 11, 2021, Cognex announced the resignation of Robert Shillman from the company's board of directors and as an executive officer of Cognex, effective May 5, 2021.
2021 marks the 40th Anniversary of Cognex.
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Cognex competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Juniper Networks | 1996 | $5.1B | 9,400 | - |
| Synopsys | 1986 | $6.1B | 15,001 | 63 |
| Conexant | 1996 | $112.0M | 312 | - |
| NCR | 1884 | $2.8B | 36,000 | 64 |
| Danaher | 1969 | $23.9B | 80,000 | 1,817 |
| Maxim Integrated | 1983 | $2.6B | 7,100 | 1 |
| Xerox | 1906 | $6.2B | 24,700 | 695 |
| Fortive | 2016 | $6.2B | 17,000 | 293 |
| Vocollect | 1988 | $119.8M | 200 | - |
| Rockwell Automation | 1903 | $8.3B | 24,500 | 316 |
Cognex history FAQs
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Cognex may also be known as or be related to COGNEX CORP, Cognex and Cognex Corporation.