Cognex (CGNX) Sells Its In-Vehicle Vision Business to Takata Corporation Group
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Cognex Corporation (NASDAQ: CGNX) announced that it has sold its lane departure warning business (LDW) to TK Holdings Inc. (Takata Corporation Group), a leading supplier of automotive safety systems based in Tokyo, Japan. Under the terms of the deal, Takata has acquired all of the assets of the LDW business for $3.15 million in cash. As a result of this sale, Cognex will record a pre-tax charge of approximately $3 million in the second quarter of 2008.
Cognex Corporation designs, develops, manufactures and markets machine vision systems and sensors, or devices that can "see." Cognex vision products are used in factories around the world to automate the manufacture of a wide range of items and to assure their quality.
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