National Instruments To Buy Israeli Analytics Company OptimalPlus For $365M

Texas-based National Instruments (NI), a multinational producer of automated test equipment and virtual instrumentation software, announced on Tuesday that it would be acquiring Israeli analytics company OptimalPlus at a transaction value of $365 million.

The American firm said in a statement that the deal would expand its enterprise software capabilities to provide customers with business-critical insights through advanced product analytics across their product development flow and supply chain.

Founded in 2005, OptimalPlus develops lifecycle analytics solutions for the automotive, semiconductor, and electronics industries, serving tier-1 suppliers and OEMs. OptimalPlus reported revenue of $51 million in 2019. It employs over 200 peoples in offices in Holon, Israel, and San Jose.

“Combining the strength of NI’s software-centric approach with OptimalPlus’ enterprise-level analytics software is expected to dramatically increase the value of test and manufacturing data, enabling product insights that will improve quality, efficiency and time to market for both NI and OptimalPlus customers,” NI said.

“The addition of OptimalPlus’ data analytics capabilities will enable us to accelerate our growth strategy by increasing enterprise-level value for shared customers in the semiconductor and automotive industries,” said Eric Starkloff, NI president and CEO, in the company statement. “During this age of digital transformation, we remain committed to delivering innovative software and systems that leverage a robust data platform to address our customers’ business challenges.”

“OptimalPlus is excited to join the NI team,” said Dan Glotter, OptimalPlus founder and CEO. “The acquisition by a technology leader like NI is testament to the leading-edge innovation delivered by our R&D, Product and Data Science teams in Israel and to the great dedication and commitment of our employees across the world.

“Together with NI, we will provide enterprise-level analytics to enable customers to achieve their digital transformation objectives while expanding our customer reach,” he added.

The transaction is set to close later this year.

Source link

What do you think?

Written by Aakash Malu


Leave a Reply

Your email address will not be published. Required fields are marked *





MeMed Receives CE Mark For Advanced Diagnostic Tech

Airbnb launches initiative to boost domestic travel to nearby destinations