Photo above: The CEO of OptimalPlus, Dan Glotter
National Instruments Corporation has entered into a definitive agreement to acquire OptimalPlus from Holon, near Tel Aviv, at a value of approximately $365 million. OptimalPlus provides analytic solutions based on big data platform technology to provide real-time product analytics and to extract insights from data across the entire supply chain. Today is serves major chip manufacturers, including Nvidia, Qualcomm, AMD, Marvell, On Semiconductor, NXP and Xilinx.
Established in 2005 by the CEO Dan Glotter, OptimalPlus employs approximately 240 employees and had revenues of $51 million in 2019. NI estimated that due to the highly complementary nature of the companies, there will be minimal cost synergies from this transaction. It means NI do not expects layoffs following the acquisition is completed.
“The addition of OptimalPlus’ data analytics capabilities will enable us to accelerate our growth strategy in the semiconductor and automotive industries.” said Eric Starkloff, NI President and CEO. “NI is the ideal partner to accelerate our innovation and increase sales opportunities,” said Dan Glotter. “The acquisition by a technology leader like NI is testament to the leading-edge innovation delivered by our teams in Israel.”
NI is specializing in high-performance automated test and measurement systems. With annual Revenue of $1.35 Billion in 2019, its NASDAQ market cap is approximately $5.2 billion. The COVID-19 pandemic had little effect on the company’s results: It had reported revenue of $309 million in Q1 2020, down less than 1% year-over-year. “Our outlook for long-term growth remains positive,” said Karen Rapp, NI CFO. “In 2020, we plan to preserve strategic investments.”