Emerson Completes Acquisition of NI, Advancing Global Automation Leadership
艾默生完成对NI的收购，提升全球自动化领导地位

NI to become new Test & Measurement segment within Emerson
NI将成为艾默生内部新设的测试与测量部门

ST. LOUIS (October 11, 2023) – Emerson (NYSE: EMR) today announced it has closed its acquisition of NI (Nasdaq: NATI), a leading provider of software-connected automated test and measurement systems, at an equity value of $8.2 billion.

圣路易斯，2023年10月11日——艾默生(纽约证券交易所代码:EMR)宣布，已经完成了对软件连接自动化测试和测量系统的供应商NI(nasidake代码:NATI)的收购，股权价值为82亿美元。

The acquisition of NI advances Emerson’s position as a global automation leader and expands its opportunity to capitalize on key secular trends like nearshoring, digital transformation, and sustainability and decarbonization. NI brings a portfolio of software, control and intelligent devices that is expected to accelerate Emerson’s revenue growth aligned to its 4-7% through the cycle organic growth target. NI increases Emerson’s end market exposure in discrete markets, which will be Emerson’s second largest industry segment, and with approximately 20% of sales in software, NI also increases Emerson’s exposure to high-growth industrial software markets. NI increases Emerson’s gross profit, with further adjusted EBITA margin expansion opportunities as Emerson delivers an expected $165 million of cost synergy opportunities by the end of year 5 through application of best practices from the Emerson Management System.

收购NI提升了艾默生作为全球自动化的地位，并扩大了其利用关键长期趋势的机会，如离岸外包、数字化转型、可持续发展和去碳化。NI带来了软件、控制和智能设备的产品组合，预计将加快艾默生的收入增长，使其通过周期有机增长目标达到4-7%。NI增加了艾默生在离散市场的终端市场份额，离散市场将成为艾默生的第二大产业部门，大约20%的销售额来自软件，NI还增加了艾默生在高增长工业软件市场的份额。由于艾默生通过应用艾默生管理系统的佳实践，到第5年年底实现了1.65亿美元的成本协同机会，因此NI增加了艾默生的毛利，并进一步调整了EBITA的利润增长机会。

“Our acquisition of NI is a significant milestone in our efforts to transform Emerson and realize our vision of increasing growth, cohesiveness and end market diversification across Emerson’s portfolio,” said Emerson President and Chief Executive Officer Lal Karsanbhai. “We are pleased to welcome NI employees to Emerson and benefit from our shared visions and cultures, including our mutual commitment to innovation, operational excellence and sustainability. Together, we look forward to providing our customers more innovative and differentiated products, executing on our synergy targets and delivering increased shareholder value.”

“收购NI是我们努力改造艾默生并实现艾默生产品组合增长、凝聚力和终端市场多元化愿景的一个重要里程碑，”艾默生总裁兼首席执行官Lal Karsanbhai表示。“我们很高兴欢迎NI员工加入艾默生，并从我们共同的愿景和文化中受益，包括我们对创新、卓越运营和可持续发展的共同承诺。我们期待共同为客户提供更具创新性和差异化的产品，实现我们的协同目标并增加股东价值。”

NI will become a new reported segment within Emerson called Test & Measurement and will be consolidated into the Software and Control group. The Test & Measurement business will continue to be headquartered in Austin, Texas. NI reported $1.66 billion in 2022 revenue and operates in more than 40 countries, serving approximately 35,000 customers across high-growth semiconductor and electronics, transportation and aerospace and defense markets.

NI将成为艾默生内部一个名为测试和测量的新部门，并将并入软件和控制集团。测试和测量业务的总部将继续设在德克萨斯州的奥斯汀。NI公布2022年收入为16.6亿美元，在40多个国家开展业务，为高增长的半导体和电子产品、交通运输、航空航天和国防市场的约35，000家客户提供服务。

Ritu Favre has been appointed to lead the Test & Measurement segment as Business Group President. Ms. Favre joined NI in 2019 as Senior Vice President and General Manager of the semiconductor business and was promoted to Executive Vice President of Business Units in 2022, where she was responsible for driving growth across the semiconductor and electronics; aerospace, defense and government; transportation; and portfolio business units. She brings more than 30 years of technology experience to Emerson, with deep customer relationships and expertise on the emerging innovations and technologies driving electronic test and measurement forward.

Ritu Favre被任命为业务集团总裁，领导测试与测量部门。Favre女士于2019年加入NI，担任半导体业务副总裁兼总经理，并于2022年晋升为业务部门执行副总裁，负责推动半导体和电子产品的增长；航空航天、国防和政府；运输; 和投资组合业务部门。她为艾默生带来了 30 多年的技术经验，在推动电子测试和测量向前发展的新兴创新和技术方面拥有深厚的客户关系和知识。

“I am excited to lead Emerson’s newly formed Test & Measurement business group and build on NI’s strong foundation as we drive synergies, continue to enhance growth and profitability, and help to execute on Emerson’s strategy as an automation leader,” said Ms. Favre. “With a deep bench of talent, an impressive roster of customers and our strong combined innovation engine, we are well positioned to work closely with Emerson’s broader business to enhance our ability to solve our customers’ toughest test and measurement challenges.”

Favre女士表示：“我很高兴能够领导艾默生新成立的测试与测量业务团队，并以NI的坚实基础为基础，推动协同效应，继续提高增长和盈利能力，并帮助执行艾默生作为自动化的战略。凭借深厚的人才储备、令人印象深刻的客户名单以及强大的综合创新引擎，我们完全有能力与艾默生更广泛的业务部门密切合作，以增强我们解决客户严峻的测试和测量挑战的能力。”

As a result of the transaction’s closing, NI’s common stock has ceased trading on the Nasdaq.

交易完成后，NI的普通股已停止在nasidake交易。