• Call Cognex Sales: 855-4-COGNEX (855-426-4639)

  • Contact Us
Company

News

FOR IMMEDIATE RELEASE

NATICK, MA, USA December 05, 2008

Cognex Adopts Shareholder Rights Plan

NATICK, MA, December 5, 2008 — Cognex Corporation (NASDAQ: CGNX) today announced that its Board of Directors has adopted a Shareholder Rights Plan.   Dr. Robert J. Shillman, the Chairman and Chief Executive Officer of Cognex, stated, “The Board believes that a Shareholder Rights Plan enhances its ability to protect shareholder interests and ensures that shareholders receive fair treatment in the event of any coercive takeover attempt.  The Plan is intended to provide the Board with sufficient time to consider any and all alternatives to such an action.  The Board believes it is protecting the interests of all of its shareholders.”

In connection with the adoption of the Shareholder Rights Plan, the Board of Directors declared a dividend distribution of one preferred stock purchase right for each outstanding share of Cognex’s common stock to shareholders of record as of the close of business on December 5, 2008.  Initially, these rights will not be exercisable and will trade with the shares of Cognex’s common stock.  Under the Shareholder Rights Plan, the rights generally will become exercisable if a person becomes an “acquiring person” by acquiring 15% or more of the common stock of Cognex or if a person commences a tender offer that could result in that person owning 15% or more of the common stock of Cognex.  If a person becomes an “acquiring person,” each holder of a right (other than the acquiring person) would be entitled to purchase, at the then-current exercise price, such number of shares of preferred stock which are equivalent to shares of Cognex’s common stock having a value of twice the exercise price of the right.  If Cognex is acquired in a merger or other business combination transaction after any such event, each holder of a right would then be entitled to purchase, at the then-current exercise price, shares of the acquiring company’s common stock having a value of twice the exercise price of the right.

INVESTOR CONTACT:
Susan Conway
Director of Investor Relations
Cognex Corporation
(508) 650-3353>

About Cognex

Cognex Corporation designs, develops, manufactures, and markets a range of products that incorporate sophisticated machine vision technology that gives them the ability to “see.” Cognex products include barcode readers, machine vision sensors, and machine vision systems that are used in factories, warehouses, and distribution centers around the world to guide, gauge, inspect, identify, and assure the quality of items during the manufacturing and distribution process.

Cognex is the world's leader in the machine vision industry, having shipped more than 1 million vision-based products, representing over $4 billion in cumulative revenue, since the company's founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has regional offices and distributors located throughout the Americas, Europe, and Asia. For details visit Cognex online at http://www.cognex.com.

Cognex, PatMax and In-Sight and EasyBuilder are registered trademarks and PatMax RedLine and In-Sight Explorer are trademarks of Cognex Corporation. All other trademarks are the property of their respective owners.

GET ACCESS TO SUPPORT & TRAINING FOR PRODUCTS & MORE

Join MyCognex

HAVE ANY QUESTIONS?

Cognex representatives are available worldwide to support your vision and industrial barcode reading needs.

Contact Us