Software firm NI to explore strategic options, including sale
13/01/2023 16:11
Jan 13 (Reuters) - Software firm NI Corp NATI.O said
on Friday it was exploring strategic options, including a sale,
amid interest from potential suitors, sending its shares to a
near four-year high.
NI, formerly known by its full name National Instruments, is
also adopting a 'poison pill', which would be triggered if a
person or a group's ownership of the firm reaches 10%. The limit
is 20% in case of passive institutional investors.
Shares of the company rose as much 19.3% to $47.94 in
morning trade.
Texas-based NI specializes in making automated testing and
measurement tools to aid in research and validation of new
technologies. It serves semiconductor, transportation, aerospace
and defense industries.
BofA Securities and Wachtell, Lipton, Rosen & Katz are
acting as financial and legal advisor, respectively, NI said.
(Reporting by Priyamvada C in Bengaluru; Editing by Krishna
Chandra Eluri)
((Priyamvada.C@thomsonreuters.com https://twitter.com/priyamouli1812?lang=en;))