Austin’s National Instruments completes $365M deal

Austin-based technology company National Instruments has closed its largest ever acquisition, the company said Monday.

The company said in June that it had agreed to acquire Israel-based data analytics company OptimalPlus. The deal was valued at $365 million, with the purchase made through a combination of cash on hand and debt.

Last month National Instruments said it was rebranding, which included shortening its name to simply NI as it shifts to providing a wider array of systems and software.

One of the largest tech employers in Central Texas, NI has long specialized in testing and measurement hardware and software systems used in a number of industries, primarily by engineers and enterprises. It employs about 2,200 local employees and 7,000 employees worldwide. The company was founded in 1976, and reported $1.4 billion in revenue in 2019.

NI’s products traditionally have served engineers, making tests and measurement hardware and software systems that can be used in a variety of systems, but the company is looking to expand this focus to include enterprise companies, especially in the aerospace, defense and government; electric and autonomous vehicles; and 5G connectivity sectors, in its customer base.