National Instruments Corporation [NASDAQ: NATI] disclosed that it has purchased NH Research, LLC (NHR). NI also inked a definitive agreement to acquire the EV Systems business of Rosenheim, Germany-based Heinzinger GmbH, a European leader in high-current and high-voltage power systems. This deal is likely to close in Q1 2022.
These purchases will grow NI’s portfolio of electrification (EV), battery, and sustainable energy capabilities to offer customers critical power level signal sensing, capture, and analysis. NI, NHR, and Heinzinger provide highly corresponding positions in testing components used in the automotive industry to quickly modernize to electrify vehicles.
Furthermore, the main focus of the purchases is to speed up NI’s opportunity in high-growth EV applications. Due to the corresponding nature of these companies to NI’s priorities of innovation and fulfilling customer needs, NI anticipates that there will be minimum cost synergies from these transactions.
Additionally, NI is financing both these transactions through a combination of its current revolving credit facility and cash on hand. These two deals will signify 3% to 4% of NI’s total revenue in 2022 and be profitable to earnings per share. Moreover, nearly 150 workers will be joining the company.
NI disclosed that these companies highlight their continued commitment to providing systems to their customers who are confronting a once-in-a-career technology inflection in electrification. The addition of expertise and complementary capability from these two leading technology companies will reinforce and increase its systems offerings to shared customers in the fast-growing area of electrification.