Emerson Electric acquires National Instruments for $8.2 billion to advance global automation leadership.
Emerson Electric has agreed to acquire National Instruments, a measurement systems maker, for $8.2 billion in cash, beating out rival Fortive Corp. in a competitive process. The deal is expected to boost Emerson's portfolio's gross margins and will be immediately accretive to its adjusted earnings per share and long-term targets. Emerson plans to finance the purchase using available cash, including proceeds from the pending sale of a majority stake in its Climate Technologies business to Blackstone Inc. The deal is expected to close in the first half of Emerson's 2024 financial year, subject to regulatory clearance and approval by National Instruments shareholders.