Farewell NI as Emerson acquisition completes
Emerson has closed its $8.2bn acquisition of NI which will become the new Test & Measurement segment.
The acquisition of NI into the Software and Control group expands Emerson’s position as a global automation leader to capitalise on trends such as nearshoring, digital transformation, and sustainability and decarbonisation.
The deal 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.
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Ritu Favre (above) 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, defence and government; transportation; and portfolio business units.
“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 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,” she said.
As a result of the transaction’s closing, NI’s common stock has ceased trading on the Nasdaq.
Emerson expects to see annual cost savings of $165m by 2028 through the application of best practices from the Emerson Management System.
“Our acquisition of NI is a significant milestone in our efforts to transform Emerson and realise 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.”
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