NI to Acquire NH Research, Enters into Definitive Agreement with Heinzinger
October 29, 2021
NI announced the acquisition of NH Research, LLC (NHR), a leader in high power test and measurement applications such as electric vehicles (EV) and batteries. The transaction closed on October 19, 2021.
NI is also announcing that it recently entered into a definitive agreement to purchase the EV Systems business of Rosenheim, Germany-based Heinzinger GmbH, a European provider of high-current and high-voltage power systems and this deal is expected to close in Q1 2022.
These acquisitions are designed to expand NI’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 complementary positions in testing components used in the automotive industry to electrify vehicles. According to NI, their EV test platform combined with these companies’ power conversion and power supply test systems will optimize testing workflows and enable rapid responses to changing test needs, accelerating time to market for a 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 of innovation and meeting customer needs, NI expects that there will be minimal cost synergies from these transactions. NI is funding both these transactions. These two transactions will represent 3 percent to 4 percent of NI's total revenue in 2022 and be accretive to earnings per share. Approximately 150 employees will be joining the company.