ETAS and National Instruments Joint Venture Granted Regulatory Approval
Stuttgart, Germany / Austin, TX, USA, September 3, 2019 – ETAS GmbH and National Instruments (Nasdaq: NATI) today announced the antitrust authorities have approved the creation of the joint venture ETAS NI Systems GmbH & Co. KG. The new company is now founded and will become fully operational by January 1, 2020. The joint venture, headquartered in Stuttgart, Germany, plans to employ 50 associates and scale for growth. ETAS and NI each own 50 percent of the new company.
The joint venture, which was announced in March 2019, will establish a deeper partnership between two innovators with decades of experience in the automotive industry. Development of modern vehicles is continuing to become more complex through increased levels of automation via driver assistance systems. As a result, automotive suppliers and automakers demand increased efficiency in software development – a demand that ETAS NI Systems will address through helping facilitate customers to achieve shorter design cycles, reduced test times, and a faster time to market.
The joint venture will design, build, and service pre-integrated Hardware-in-the-Loop (HiL) systems to help customers meet their needs in the rapidly evolving automotive sector driven by electrification and advanced driver assistance systems. The company will combine the NI software-defined platform and comprehensive I/O capabilities with ETAS’ expertise in developing and integrating HiL solutions.
“With the formation of ETAS NI Systems, a milestone has been reached for improving test and validation of software in automotive electronics, including electronic control units and sensors, to meet current and future customer requirements,” said Friedhelm Pickhard, Chairman of the Board of Management of ETAS GmbH. “With NI and its complementary component portfolio, strong brand, high quality products, and cultural fit we have found a strong partner.”
“The strength of the ETAS and NI teams, domain expertise, and global footprint create a unique opportunity to broaden the reach to customers and help them solve the development challenges in the automotive industry,” said Eric Starkloff, NI President and Chief Operating Officer. “We have made great progress toward getting our partnership operational and look forward to meeting customer needs.”
Forward-Looking Statement Safe Harbor
This release contains “forward-looking statements,” including statements that the new company will become fully operational by January 1, 2020; the company, headquartered in Stuttgart, Germany, plans to employ 50 associates and scale for growth; the joint venture will establish a deeper partnership between two innovators with decades of experience in the automotive 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’ 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 ETAS and NI teams create a unique opportunity to broaden the reach to customers and help them solve the development challenges in the automotive industry; and ETAS and NI have made great progress toward getting their partnership operational and look forward to meeting customer needs. These statements are subject to a number of risks and uncertainties, including NI’s ability to successfully collaborate with ETAS on the joint venture, the level of demand or market acceptance of the products and technology of the joint venture, changes or fluctuations in the global economy including those that impact the automotive industry, delays in the release of new products by the joint venture, competitive developments, and the ability of the joint venture to retain key associates, customers, and other relationships. Actual results may differ materially from the expected results. NI directs readers to its Form 10-K for the fiscal year ended December 31, 2018, its most recent Form 10-Q, filed August 2, 2019, and other documents it files with the SEC for other risks associated with NI’s future performance. Stockholders are cautioned not to place undue reliance on NI’s forward-looking statements, which speak only as of the date such statements are made. NI undertakes no obligation to publicly update any forward-looking statements to reflect events, circumstances, or new information after the date of this press release, or to reflect the occurrence of unanticipated events.
No conference call will be held in connection with this press release.
ETAS provides innovative solutions for the development of embedded systems for the automotive industry and other sectors of the embedded industry. As a systems provider, ETAS supplies a multi-faceted portfolio that covers the range from integrated tools and tool solutions to engineering services, consulting, training, and support. Holistic IoT security solutions are offered via ETAS subsidiary ESCRYPT. Established in 1994, ETAS GmbH is a 100-percent subsidiary of the Bosch Group, with international subsidiaries and sales offices in Europe, North and South America, and Asia.
Senior Manager Press and Public Relations
National Instruments Corporation
NI (www.ni.com) empowers engineers and scientists with a software-defined platform that incorporates modular hardware and an expansive ecosystem. This proven approach puts users firmly in control of defining what they need to accelerate their system design within test, measurement, and control. NI’s solution helps build high-performance systems that exceed requirements, quickly adapt to change, and ultimately improve the world.
Head of Strategic Communications and Investor Relations
National Instruments Corporation