National Instruments to acquire AWR Corporation

"AWR has an exceptional team with strong RF talent and technologies that expand the NI platform into RF design, which is complementary to our capability to make measurements across the RF design flow," said Dr. James Truchard, president, CEO and cofounder of National Instruments. "We believe this combination will accelerate the deployment of RF and wireless technologies and offers a significant benefit to the customers of both companies." "There is clear synergy between the customers and product offerings of both companies," said Dane Collins, CEO of AWR. "NI has a leading platform in prototyping and testing of RF systems which is complementary to AWR's RF circuit and system software design tools to the benefit of mutual customers. Together, we are better able to support and service our growing global installed base." The aggregate purchase price to be paid at closing is approximately USD 58 million, which includes USD 7 million in cash on the AWR balance sheet. In addition, the merger agreement contains an earn-out provision, which is payable over three years. The transaction is expected to close within 30-45 days and is subject to customary closing conditions including Hart-Scott-Rodino regulatory clearance.