NI strengthens position in electrification and battery test
Test specialist NI has acquired NH Research (NHR), a supplier of power conversion and power supply test systems. But that’s not all, NI has also entered into a definitive agreement to purchase the EV Systems business of Rosenheim, Germany-based Heinzinger GmbH.
The acquisition of NH Research closed on October 19, 2021 and the deal with Heinzinger GmbH is expected to close in Q1 2022, a press release reads. NI says that these acquisitions will expand the company’s portfolio of electrification (EV), battery, and sustainable energy capabilities and add critical power level signal sensing, capture and analysis. “NI, NHR, and Heinzinger serve highly complementary positions in testing components used in the automotive industry to rapidly innovate to electrify vehicles. We believe combining the strength of NI’s flexible EV test platform with these companies’ power conversion and power supply test systems expertise will optimize testing workflows and enable rapid responses to changing test needs, accelerating time to market for a broader range of customers,” NI writes in the press release. The focus of the acquisitions is to accelerate NI’s opportunity in high growth EV applications. And due to the complementary nature of these companies, NI says that it expects minimal cost synergies from these transactions. These two transactions will represent 3% to 4% of NI’s total revenue in 2022 and be accretive to earnings per share. Approximately 150 employees will be joining the company. “We continue to be intentional with investments where we see high potential to accelerate our growth. The addition of expertise and complementary capability from these two leading technology companies will help strengthen and expand our systems offerings to shared customers in the fast-growing area of electrification.” says Eric Starkloff, NI President and CEO in the press release.