NI to Acquire NH Research, Enters into Definitive Agreement with Heinzinger
Updated: Apr 6, 2022
NI has announced the acquisition of NH Research, LLC, which specialise in high power test and measurement applications such as electric vehicles (EV) and batteries. The transaction closed on October 19, 2021. In addition, NI is also announcing that it recently entered into a definitive agreement to purchase the EV Systems business of Heinzinger GmbH, a specialist in high-current and high-voltage power systems. This deal is expected to close in Q1 2022.
These acquisitions will expand NI’s electrification (EV) portfolio, 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 to innovate to electrify vehicles rapidly.
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 of innovation and meeting customer needs, NI expects that there will be minimal cost synergies from these transactions. NI is funding these transactions through a combination of its existing revolving credit facility and cash on hand. These two transactions will represent 3 percent to 4 percent of NI's total revenue in 2022 and be accretive to earnings per share. In addition, 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,” 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. We welcome the employees of NHR and Heinzinger as we collectively accelerate our long-term growth ambitions.”