DS200DCFBG1BGB NI acquires NH Research and enters into definitive agreement with Heinzinger

On November 1, 2021, NI (NASDAQ: NATI) announced the acquisition of NH Research, LLC (NHR). NHR is a leader in high-power test and measurement applications such as electric vehicles (EV) and batteries, and the transaction closed on October 19, 2021. NI also announced that it recently entered into a definitive agreement to acquire the electric vehicle systems business of Heinzinger GmbH, headquartered in Rosenheim, Germany. Heinzinger GmbH is a European leader in high-current and high-voltage power systems and the transaction is expected to close in the first quarter of 2022. These acquisitions will expand NI's technical capabilities in areas such as electrification (EV), batteries and sustainable energy to provide customers with critical power level signal perception, acquisition and analysis. In the automotive industry, NI, NHR and Heinzinger's technologies for testing automotive components are highly complementary, and our collaboration can drive rapid innovation for the electrification of vehicles. We believe that the strength of NI's flexible EV test platform, combined with these companies' power conversion and power test system expertise, will optimize test workflows, respond quickly to changing test needs, and help a broader range of customers accelerate time to market."

The focus of these acquisitions is to accelerate NI's opportunities in high-growth electric vehicle applications. Innovation and meeting customer needs are top priorities for NI, and these companies are highly complementary to NI, which expects minimal cost synergies from these transactions. NI is funding both transactions through its existing revolving credit facility and cash on hand. In 2022, the two transactions will account for 3% to 4% of NI's total revenue and add to earnings per share. About 150 employees will join NI.