AUSTIN, TX, May 23, 2011
National Instruments (Nasdaq: NATI) today announced the acquisition of Phase Matrix. The acquisition brings key RF talent, technologies, and manufacturing capabilities to NI and will significantly increase the capability of NI products in high-frequency RF and microwave applications, extending the frequency range of NI products to 26.5 GHz and beyond.
Phase Matrix will continue to operate under the name Phase Matrix, Inc. as a wholly owned NI subsidiary and to design and manufacture RF and microwave test and measurement instruments, subsystems, and components. Phase Matrix founders, Pete Pragastis and Charanbir Mahal, will remain with the company as the general manager and chief technology officer, respectively.
“NI has been the leading supplier of PXI modular instrumentation for over a decade, and our significant investments in the development of our PXI RF platform have helped our customers build faster and more efficient RF test systems,” said Dr. James Truchard, president, CEO, and cofounder of National Instruments. “Phase Matrix will help NI significantly accelerate the deployment of high-performance RF and wireless technologies for both R&D and production test applications.”
As NI works to drive growth of its PXI RF products, Phase Matrix will contribute RF talent, technologies, and manufacturing capabilities. NI and Phase Matrix have worked together for a number of years and, for some time, NI has been interested in adding Phase Matrix capabilities to the NI portfolio. Phase Matrix also will continue to sell directly to customers and OEMs, who should continue to contact Phase Matrix or its distributors for sales, support, and service needs for all current product offerings.
“Phase Matrix is excited to become part of the National Instruments family,” said Pete Pragastis, general manager of Phase Matrix. “We believe our expertise in modular instrumentation, fast-switching synthesizers, and high-frequency microwave components will complement the NI platform, and Phase Matrix looks forward to collaborating on products that will extend the current NI product offering into higher-frequency applications.”
The purchase price was approximately $38 million: other transaction terms are not being disclosed.
About National Instruments
National Instruments is transforming the way engineers and scientists design, prototype, and deploy systems for measurement, automation, and embedded applications. NI provides off-the-shelf software such as NI LabVIEW and modular cost-effective hardware and sells to a base of more than 30,000 companies worldwide, with its largest customer representing approximately 4% of revenue in 2010 and no one industry representing more than 15% of revenue. NI has approximately 5,500 employees and direct operations in more than 40 countries. For the past 12 years, FORTUNE magazine has named NI one of the 100 best companies to work for in America. For investment information from the company’s investor relations, call 512-683-5090, email [email protected], or visit www.ni.com/nati. (NATI-G)
About Phase Matrix
Phase Matrix is a privately held company in San Jose, CA, that designs and manufactures RF and microwave test and measurement instruments, subsystems, and components. The company, founded in 1999, has designed and sold RF and microwave products for both the commercial and military industries. www.phasematrix.com