The company says it has retained advisers Bank of America Corp. and Wachtell Lipton Rosen & Katz to review a range of alternatives, “including solicitation of interest from potential acquirers and other transaction partners, some of whom have already approached the company.”

“Over the last five years, we have been executing an exciting strategic transformation, increasing our focus on complete solutions for high-growth vertical markets,” says NI chairman Michael McGrath (pictured).

The company has adopted a poison pill provision which doesn’t expire until 2024 which makes it impossible for anyone to obtain more than 10% of the shares.


NI said the poison pill was designed to “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.”

NI had record revenue of $1.47 billion in 2021 and Q322 revenue up 16% y-o-y of  $428 million. Through three quarters in 2022, NI had $1.2 billion in revenue.

NI’s market cap at Friday’s close was $6.13 billion.