National Instruments Acquires AWR for $58 Million

National Instruments is acquiring AWR for about $58 million, which includes $7 million in cash. The existing AWR management team will continue to lead the company in their current roles, and AWR will operate as a wholly owned NI subsidiary developing and selling RF design software. AWR is a supplier of electronic design automation (EDA) software for designing RF and high-frequency components and systems for the semiconductor, aerospace and defense, communications and test equipment industries.

AWR Acquisition Highlights

  • Aggregate purchase price is approximately $58 million, which includes $7 million in cash on the AWR balance sheet
  • Merger agreement contains an earn-out provision, which is payable over three years
  • Transaction is expected to close within 30-45 days and is subject to closing conditions including Hart-Scott-Rodino regulatory clearance
  • AWR will continue to operate as a wholly owned NI subsidiary under the existing management team
  • NI believes the acquisition will accelerate the deployment of RF and wireless technologies
  • NI and AWR product portfolios are complementary
  • NI and AWR plan to increase the level of integration between AWR design tools and NI software and hardware
  • AWR design tools in combination with NI RF testing platform will enable engineers to decrease the time to market for RF designs
  • NI will augment its current academic and university RF and communications initiatives to include AWR software tools
  • ThinkEquity LLC – A Panmure Gordon Company, acted as exclusive financial advisor to NI
  • Needham and Company LLC acted as an exclusive financial advisor to AWR
  • Conference call today at noon CDT
  • Replay of conference call is available through May 28 by calling (888) 203-1112, confirmation code #1927872

More info: National Instruments | AWR Corporation