Emerson and NI Announce that Emerson will Acquire NI

Emerson and NI announced that they have entered into a definitive agreement under which Emerson will acquire NI for $60 per share in cash at an equity value of $8.2 billion. Emerson already owns approximately 2.3 million shares of NI, representing approximately 2% of shares outstanding, which were acquired at a weighted average price of $36.84. As a result, Emerson’s effective per share purchase price is $59.61.

NI provides software-connected automated test and measurement systems that enable enterprises to bring products to market faster and at a lower cost. NI’s solutions help customers solve current and future test challenges and improve speed and efficiency in their product development cycles. NI had $1.66 billion in 2022 revenue and operates in more than 40 countries, serving approximately 35,000 customers across semiconductor and electronics, transportation, and aerospace and defense markets.

Harry Forbes, ARC Advisory Group, commented, “With NI onboard, Emerson expands into an entirely new set of applications and vertical industries, almost all of which are discrete manufacturers as opposed to the process manufacturing, energy, and utilities industries that Emerson Automation has served for decades. This is a far more numerous and diverse set of customers, as well as a new set of channels.”