Cognex acquires RealSense for $500M cash to enter robotic perception

COGNEX CORP

All-cash $500M deal, funded from existing cash/investments; expected to close Q4 2026.
RealSense 2026 revenue projected at $80-90M, up >50% YoY; robotic perception market ~$600M today, ~$1.6B by 2030.
Retention: ~$50M in RSUs (vesting 20%/30%/50% over 3 yrs) and up to $69M cash payments (incl. $25M performance-based); press release cites $56.5M target.
RealSense, spun out of Intel in 2025, will divest Facial Authentication line before close.
Cognex expects strong accretion to growth and Adjusted EBITDA margins; deal advised by Evercore.

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