NATICK, Mass. and CUPERTINO, Calif. — September 22, 2026 — Cognex Corporation, the global technology leader in industrial machine vision, today announced that it has entered into a definitive agreement to acquire RealSense, the market leader in depth-sensing cameras and vision technology for robotic perception and Physical AI. The acquisition advances Cognex's strategy to diversify its growth engine by entering the robotic perception market, a high-growth adjacency that expands its served market opportunity.
"RealSense represents a compelling strategic expansion for Cognex into robotic perception, one of the most attractive adjacent markets in machine vision," said Matt Moschner, President and Chief Executive Officer of Cognex. "RealSense brings a leading 3D perception platform with proprietary technology, a strong developer community and a compelling value proposition for customers. Combined with Cognex's machine vision expertise and global reach, RealSense positions us to offer a full-stack visual intelligence platform, spanning industrial ID, 2D and 3D machine vision measurement to 3D depth perception and robotic navigation, built to serve the full spectrum of Physical AI."
"RealSense was built on a simple idea: robots and autonomous systems can't act intelligently in the physical world if they can't first perceive it accurately. We've called that mission the Visual Cortex of Physical AI. Joining Cognex puts that mission on an entirely new scale, giving us access to a global industrial customer base and go-to-market reach that would have taken us years to build on our own. This is a combination that makes both businesses stronger," said Nadav Orbach, Chief Executive Officer of RealSense.
Originally founded by Intel in 2014 and spun out in 2025, RealSense has established a leading position in 3D robotic perception, with applications across fixed arm perception-guided robotics, autonomous mobile robots, quadrupeds and humanoids. The acquisition expands Cognex's served market opportunity by adding exposure to a robotic perception market estimated at $600 million today and expected to grow more than 25% annually to approximately $1.6 billion by 2030. RealSense is expected to generate revenue of $80 million to $90 million in 2026, representing more than 50% growth over the prior year.
"This transaction is highly aligned with our disciplined M&A strategy," said Dennis Fehr, Chief Financial Officer of Cognex. "RealSense is expected to be strongly accretive to Cognex's growth profile. Over time, we expect the business to scale in line with Cognex's through-cycle financial framework, including attractive Adjusted EBITDA margins and strong free cash flow conversion."
Under the terms of the agreement, Cognex will acquire RealSense for approximately $500 million, financed entirely from existing cash and investments on its balance sheet. Cognex also expects to provide a three-year $56.5 million cash retention program at target for RealSense employees, subject to performance modifiers, and to grant restricted stock units valued at approximately $50 million under Cognex's existing 2023 Stock Option and Incentive Plan dependent on the grant-date share price. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
Prior to closing, RealSense will spin out its Facial Authentication product line into an independent company, including all necessary functions to continue its focused growth strategy in the biometrics market.
ABOUT COGNEX
For over 40 years, Cognex has been making advanced machine vision easy, paving the way for manufacturing and distribution companies to become faster, smarter, and more efficient through automation. Innovative technology in our vision sensors and systems solves critical manufacturing and distribution challenges, providing unparalleled performance for industries from automotive to consumer electronics to packaged goods. Cognex makes these tools more capable and easier to deploy thanks to a longstanding focus on AI, helping factories and warehouses improve quality and maximize efficiency without needing highly technical expertise.
We are headquartered near Boston, USA, with locations in over 30 countries and more than 30,000 customers worldwide. Learn more at cognex.com.
ABOUT REALSENSE
RealSense delivers the Visual Cortex of Physical AI™ through industry-leading depth cameras and vision technology used in autonomous mobile robots, humanoid robots, industrial automation, and beyond. With a mission to deliver world-class perception systems for Physical AI and safely integrate robotics and AI into everyday life, RealSense provides intelligent, secure, and reliable vision systems that help machines navigate and interact with the human world. RealSense is headquartered in Cupertino, California, with operations worldwide. Learn more at realsenseai.com.
MEDIA CONTACT
Greer Aviv
Head of Investor Relations
Cognex Corporation
ir@cognex.com
Emily Roberts
RealSense
PRforRealSense@bospar.com
-- # # # --
« Back to News
