Cognex acquires RealSense in USD600m Physical AI deal
Cognex has agreed to acquire RealSense, the Israeli-led robotics and computer vision company spun out of Intel in 2025, in a transaction valued at approximately USD 600 million.
Cognex will pay approximately USD 500 million in cash, financed from its existing balance sheet. The transaction also includes a three-year employee retention program worth USD 56.5 million at target and approximately USD 50 million in restricted stock units.
RealSense develops 3D depth cameras and computer vision technology used in autonomous mobile robots, humanoids, quadrupeds, and other robotic systems. Since becoming independent from Intel 14 months ago, the company has tripled revenue and expects to generate between USD 80 million and USD 90 million in 2026.
The acquisition, Cognex’s largest to date and its first in Israel, is expected to strengthen its position in robotic perception and Physical AI. Following completion, RealSense’s Israeli operations are expected to become Cognex’s development center.
Herzog advised RealSense on the transaction, with a team led by Yair Geva, Itay Lavi, and Yuval Zilber, together with Raji Aweis, Tomer Gordon, Danielle Yagen Katz, Yaniv Erlich, and Shachar Porat.
Foley & Lardner represented Cognex, with Arnon, Tadmor-Levy serving as Israeli counsel.
The Arnon team was led by Ezra Gross and supported by Shmulie Kuperstok, Omer Sarusi, Ofir Levy, Meir Greenwald, Ben Sandler, Michael Portman, Adi Krupsky, and Neta Goshen Brami.
