US automated tests and measurement company National Instruments (Nasdaq: NATI) has announced that it has acquired Israeli big data analytics company OptimalPlus, for $365 million. OptimalPlus develops AI-based big data analytics systems for the semiconductor and automotive industries.
The Holon-based company has raised $83 million since it was founded 15 years ago and its investors include Pitango, Viola and KKR.
OptimalPlus has 240 employees and had revenue of $51 million in 2019. The company was founded by CEO Dan Glotter and Nir Erez (a founder of Moovit, which was sold to Intel last month for $1 billion). Erez left the company in 2009 but still retains a stake in OptimalPlus.
Glotter said, "We are confident NI is the ideal partner to accelerate our innovation and increase sales opportunities through advanced product analytics. It is evident we share the unique commitment to high-quality software tools and need for world-class customer experience. The acquisition by a technology leader like NI is testament to the leading-edge innovation delivered by our R&D, Product and Data Science teams in Israel and to the great dedication and commitment of our employees across the world. Together with NI, we will provide enterprise-level analytics to enable customers to achieve their digital transformation objectives while expanding our customer reach."
National Instruments president and CEO Eric Starkloff said, "The addition of OptimalPlus’ data analytics capabilities will enable us to accelerate our growth strategy by increasing enterprise-level value for shared customers in the semiconductor and automotive industries. During this age of digital transformation, we remain committed to delivering innovative software and systems that leverage a robust data platform to address our customers’ business challenges. I welcome the employees of OptimalPlus and look forward to collectively accelerating our long-term growth ambitions."
Pitango Managing General Partner Aaron Mankovski said, "Most likely, any electronic system or device in the world, from cell phone to cars, has at least one component that went through OptimalPlus software. Based on this strategic value, National Instruments made the decision to acquire the company."
He added: "OptimalPlus was one of the pioneers that implemented AI, ML and big data analytics in its algorithms over a decade ago. These capabilities made the company to be the category leader in the semiconductors and electronics industry. With this competitive advantage, OptimalPlus appeared on National Instruments’ radar."
Viola Ventures cofounder Shlomo Dovrat said, "This is a testament to semi being not only about chips, but also about software and data analytics supporting this industry, and at Viola we are strong believers in Israel's ability to generate significant companies in this space in the near future".
Published by Globes, Israel business news - en.globes.co.il - on June 2, 2020
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