Cognex Corporation completed the acquisition of Sualab from Spring Camp, SoftBank Ventures Asia, Stonebridge Ventures, InterVest Co., Ltd. and others for approximately $190 million.
October 15, 2019
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Cognex Corporation (NasdaqGS:CGNX) agreed to acquire Sualab from Spring Camp, SoftBank Ventures Asia, Stonebridge Ventures, InterVest Co., Ltd. and others on October 14, 2019. Song Kiyoung, co-founder of SUALAB will join Cognex. Hark Hun KIM of Law Firm LIN P.C acted as legal advisor to Cognex.
Cognex Corporation (NasdaqGS:CGNX) completed the acquisition of Sualab from Spring Camp, SoftBank Ventures Asia, Stonebridge Ventures, InterVest Co., Ltd. and others for approximately $190 million on October 16, 2019. Under the terms of the transaction, Cognex acquired 35,300 shares of Sualab from Spring Camp. The total consideration included cash payments of approximately $171 million upon closing. The remaining consideration consists of deferred payments of approximately $24 million that may become payable on the fourth anniversary date of the closing, contingent upon the continued employment of key talent, and will be recorded as compensation expense over this four-year period.
StoneBridge Ventures Inc is a Korea-based company principally engaged in the venture capital business. The Company focuses on innovation infrastructure fields such as deoxyribonucleic acid (DNA), data, network including fifth generation (5G) mobile telecommunication and artificial intelligence (AI) as well as others.
Cognex Corporation completed the acquisition of Sualab from Spring Camp, SoftBank Ventures Asia, Stonebridge Ventures, InterVest Co., Ltd. and others for approximately $190 million.