Emerson Electric Co. revealed on Wednesday in a statement that it has finalized the acquisition deal with National Instruments Corporation, valued at $8.2 billion or $60 per share. The transaction was greenlighted by both of the companies' boards of directors and is expected to close in the first half of Emerson's fiscal 2024. It is subject to the approval of the regulators and NI shareholders.
"We are pleased to reach an agreement with NI, whose best-in-class test and measurement product and software offerings accelerate Emerson's progress toward a cohesive, higher growth and higher margin automation portfolio," Emerson CEO Lal Karsanbhai commented.
He went on to say that this expansion into "test and measurement" will allow the company to boost its automation capabilities and gain a new set of consumers. "These capabilities provide Emerson industry diversification into attractive and growing discrete markets like semiconductor and electronics, transportation and electric vehicles, and aerospace and defense," he explained.
