NI has also confirmed that it is to purchase the EV Systems business of Rosenheim from Heinzinger, a European leader in high-current and high-voltage power systems - this deal is expected to close in Q1 2022.
According to NI, these acquisitions will expand the company's portfolio of electrification (EV), battery, and sustainable energy capabilities to provide customers with critical power level signal sensing, capture and analysis.
NI, NHR, and Heinzinger serve highly complementary positions in testing components used in the automotive industry that is rapidly moving to electrify vehicles. NI said that by combining its flexible EV test platform with these companies’ power conversion and power supply test systems expertise meant that it would be able to optimise testing workflows and enable rapid responses to changing test needs, accelerating time to market for a broader range of customers.
The focus of the acquisitions is to accelerate NI’s opportunity in high growth EV applications. Due to the complementary nature of these companies to NI’s priorities it said that it expects that there will be minimal cost synergies from these transactions. NI is funding both transactions through a combination of its existing revolving credit facility and cash.
“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.” said Eric Starkloff, NI President and CEO.
“These companies demonstrate our continued commitment to delivering systems to our customers who are facing a once in a career technology inflection in electrification.”