Electric vehicle systems business acquired.

NI has officially closed the purchase of Heinzinger Automotive GmbH, the Electronic Vehicle (EV) Systems business of Heinzinger electronic GmbH, a European leader in high-current and high-voltage power systems.

This acquisition further expands NI’s portfolio of electrification, battery test, and sustainable energy capabilities, and broadens reach to customers. By providing critical power level test systems, NI will enable customers to achieve the scale at which the EV market is growing, driven by consumer demand, global regulations, and the push for sustainable transportation. NI and Heinzinger Automotive GmbH serve highly complementary positions in testing components used in the automotive industry to rapidly innovate to electrify vehicles and achieve vision zero. The combined strength of NI’s flexible EV test platform with Heinzinger’s high voltage power supply systems and expertise will optimize test performance and enable faster responses to changing test needs, accelerating time to market and lowering total cost of test for a broader range of customers.

“We will continue to prioritize inorganic investments that strategically align to our business in order to accelerate growth,” said Eric Starkloff, NI President and CEO. “The addition of expertise and complementary capability from Heinzinger will help strengthen our systems offerings and expand our international footprint in the fast-growing area of electrification. Together we remain committed to delivering value to our shared customers who are facing this once in a career technology inflection.”

The focus of this acquisition and the acquisition of NH Research, which closed in Q4 2021, is to accelerate NI’s ability to serve customers 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 there to be minimal cost synergies. NI funded both these transactions through cash drawn from its existing revolving credit facility and cash on hand. NI expects revenue from the two acquired businesses will represent 3 percent to 4 percent of NI's total revenue in 2022.

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