According to nasdaqtrader.com the merger is tentatively scheduled to close prior to the market open on October 11, 2023. In anticipation of the closing, the stock will be halted immediately following the after-hours session at 8 p.m. on October 10, 2023. If the merger closes as anticipated, the stock will remain halted on the day of closing (October 11th) and will be suspended effective October 12, 2023.
The historical stock price of NATI can be seen in the following screenshot from Yahoo Finance:
At NI [RE]Connect in Odense, Denmark yesterday, we were told that the message is “business as usual”.
Judging from other Emerson acquisitions, it is not unlikely that webpages and email address will be the same be moved to the Emerson domain.
In their press release today, Emerson formally announced that the acquisition has closed, and a new Test and Measurement Business Unit in Emerson has been created headed by Rita Favre as business group President.
In conversations over coffee yesterday in Odense, several themes came out: Continued enthusiasm for LabVIEW, combined with disappointment at the perceived lack of serious investment in the product by NI. Reticence to sign up to the subscription model for LabVIEW, due to its high on-going cost. Many companies have frozen their LabVIEW development at much earlier versions, due to the very few core functionality additions to newer editions of LabVIEW. And also legacy hardware support being dropped by newer editions of DAQ-MX, along with the re-certification and migration costs of upgrading to newer versions were mentioned as issues. Classic DAQ is also suffering from lack of renewal and some products are significantly overpriced and use outdated technology.
Judging from many other corporate acquisitions, some management re-shuffling, re-organization, cutting redundant staff, transition to other ERP and infrastructure systems, is not unusual.
Emerson has stated that it sees significant synergies with NI and while the message is that they will continue to invest, their initial bid for NI and the associated Web site www.MaximizingValueAtNI.com (No longer accessible) clearly identified significant areas for greater efficiency. However, the acquisition appears to be a genuine long-term commitment to keep and grow the business, whereas acquisitions by capital funds are based on short time frames to acquire, trim and rationalize, and divest again.