Emerson Electric to buy NI Corp for $8.2 bln to deepen automation push
U.S. industrial conglomerate Emerson Electric Co (EMR.N) said on Wednesday it will buy measurement tools maker NI Corp (NATI.O) for $8.2 billion in a bid to boost its automation capabilities.
The $60-per-share cash offer represents a premium of 14.1% to NI stock’s Tuesday close.
The purchase will allow Emerson to tap NI’s software-connected automated test and measurement systems for higher growth and margins in its automation portfolio.
“These capabilities provide Emerson industry diversification into attractive and growing discrete markets like semiconductor and electronics, transportation and electric vehicles,” Emerson Chief Executive Officer Lal Karsanbhai said.
Emerson has executed a string of deals over the last few years to streamline itself into an industrial automation provider. Last year, it sold a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that valued the business at $14 billion.
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