- National Instruments Corp.
- 12 April 2023 13:46:57
Source: Sharecast
Emerson, which already owns a stake of around 2% in NI, will pay $60 per share in cash. This is a premium of around 49% to NI's closing share price as of 12 January, which was the day before it announced a strategic review.
National Instruments provides software-connected automated test and measurement systems that enable enterprises to bring products to market faster and at a lower cost. The company operates in more than 40 countries, serving around 35,000 customers across semiconductor and electronics, transportation, and aerospace and defence markets. In 2022, it had revenues of $1.66bn.
Emerson president and chief executive Lal Karsanbhai said: "We are pleased to reach an agreement with NI, whose best-in-class test and measurement product and software offerings accelerate Emerson's progress toward a cohesive, higher growth and higher margin automation portfolio.
"With this expansion into test and measurement, Emerson will enhance its automation capabilities and gain a broader set of customers that relies on NI's solutions at critical points along the product development cycle. These capabilities provide Emerson industry diversification into attractive and growing discrete markets like semiconductor and electronics, transportation and electric vehicles, and aerospace and defence that are poised to benefit from secular growth trends."
