Under the terms of the acquisition, Cognex purchased all of the outstanding shares of DVT for approximately $115ꯠꯠ, consisting of a cash payment of $104 million made at the closing, and a final payment of up to an additional $11 million in cash to be paid at the end of a one-year escrow period.
The acquisition was completed on May 9, 2005.
Cognex plans to maintain operations at DVT's current facility in Georgia, and to continue selling and supporting DVT's vision products through DVT's existing third-party distribution channel.
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