NI Announces Commencement of Strategic Review Process
NI (Nasdaq: NATI) has announced a strategic review to unlock shareholder value, consulting with financial and legal advisors. The Board is considering various strategic options, including potential acquisition interests. Chairman Michael McGrath highlighted a successful transformation focused on vertical markets, resulting in greater bookings. The Company also instituted a limited-duration shareholder rights plan expiring on January 12, 2024, aimed at preventing hostile takeovers and ensuring fair participation in the strategic review. There is no set timeline for the review, and no assurances of specific outcomes have been provided.
- Successful transformation strategy leading to increased bookings in high-growth markets.
- Adoption of a shareholder rights plan to protect shareholder interests during potential acquisitions.
- Uncertainty surrounding the outcome of the strategic review with no assurances for shareholders.
Adopts Limited-Duration Shareholder Rights Plan to Protect Process Integrity
“Over the last five years, we have been executing an exciting strategic transformation, increasing our focus on complete solutions for high-growth vertical markets,” said
“The strategic initiatives we have implemented since 2017 and our focus on software and related services have transformed NI into a company with higher growth, better profitability and lower cyclicality,” said
The Company also announced that the Board has approved the adoption of a limited duration shareholder rights plan (the "Rights Plan") and authorized a dividend distribution of one right ("Right") for each outstanding share of common stock. The Rights Plan has been adopted in order to protect the best interests of the Company and its shareholders, help ensure that all interested parties have the opportunity to participate fairly in the strategic review and to provide the Board and shareholders time to make informed decisions. The Rights Plan is also intended to reduce the likelihood that any person or group gains control of the Company through open market accumulation or other tactics and reduce the likelihood that actions are taken by third parties that are not in the best interests of the Company and all of its shareholders.
The Rights Plan will expire on
There is no deadline or definitive timetable set for completion of the strategic review, and there is no assurance that this process will result in any specific transaction, including a business combination or acquisition of NI. There is also no assurance as to the specific terms or timing for any agreed transaction if one were to result. The Company does not plan to make further comment or disclosures regarding this review until such time as required by law or otherwise deemed appropriate.
About NI
At NI, we bring together people, ideas and technology so forward thinkers and creative problem solvers can take on humanity’s biggest challenges. From data and automation to research and validation, we provide the tailored, software-connected systems engineers and enterprises need to Engineer Ambitiously™ every day.
Forward-Looking Statements
This release contains "forward-looking statements," including statements regarding our beliefs regarding our future performance. These statements are subject to a number of risks and uncertainties, including the risk of adverse changes or fluctuations in the global economy, foreign exchange fluctuations, component shortages, delays in the release of new products, fluctuations in demand for the Company’s products including orders from the Company’s largest customer, the Company's ability to effectively manage its operating expenses, manufacturing inefficiencies and the level of capacity utilization, the impact of any recent or future acquisitions by the Company, expense overruns and adverse effect of price changes and effective tax rates, and the outcome of any strategic options review process. Actual results may differ materially from the expected results.
The Company directs readers to its Form 10-K for the year ended
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Investor Relations
Head of Investor Relations, NI
512-773-0856
Email: marissa.vidaurri@NI.com
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FGS Global
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Source: NI
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