National Instruments and ETAS Joint Venture Granted Regulatory Approval
Summary
AUSTIN, Texas--(BUSINESS WIRE)--National Instruments (Nasdaq: NATI) and ETAS GmbH today announced that the antitrust authorities have approved the creation of their joint venture. The joint venture, which was announced in March 2019, will establish a deeper partnership between two innovators with decades of experience in the automotive test industry. The development of modern vehicles is growing more complex due to increased levels of automation via driver assistance systems. We have made great progress toward getting our partnership operational and look forward to meeting customer needs.” This release contains "forward-looking statements," including statements that the new company will become fully operational by Jan. 1, 2020; the company, headquartered in Stuttgart, Germany, plans to employ 50 people and scale for growth; the joint venture will establish a deeper partnership between two innovators with decades of experience in the automotive test industry; ETAS NI Systems will address the demand of automotive suppliers and automakers for increased efficiency in software development by helping customers achieve shorter design cycles, reduced test times and a faster time to market; the company will design, build and service pre-integrated HIL systems to help customers meet their needs in the rapidly evolving automotive sector shaped by electrification and advanced driver assistance systems; the company will combine NI’s software-defined platform and comprehensive I/O capabilities with ETAS’s expertise in developing and integrating HIL solutions; a milestone has been reached for improving the test and validation of software in automotive electronics, including electronic control units and sensors, to meet current and future customer requirements; the strength, domain expertise and global footprint of the NI and ETAS teams create a unique opportunity to broaden the reach to customers and help them solve the development challenges in the automotive industry; and NI and ETAS have made great progress toward getting their partnership operational and look forward to meeting customer needs. Our open, software-defined platform uses modular hardware and an expansive ecosystem to help you turn powerful possibilities into real solutions.
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