Cognex Corporation (Cognex) is a provider of vision systems, vision software, vision sensors and surface inspection systems used in manufacturing automation. The Company has two operating division: the Modular Vision Systems Division (MVSD) and the Surface Inspection Systems Division (SISD). MVSD develops, manufactures and markets modular vision systems that are used to automate the manufacture of items, such as cellular phones, aspirin bottles, and automobile wheels, by locating, identifying, inspecting, and measuring them during the manufacturing process. SISD develops, manufactures and markets surface inspection vision systems that are used to inspect the surfaces of materials, such as metals, paper, non-wovens, plastics and glass. In July 2008, the Company announced sale of its lane departure warning business (LDW) to TK Holdings Inc. (Takata Corporation Group), a supplier of automotive safety systems based in Tokyo, Japan.