Mar 12, 2019   SOURCE: BusinessWire

National Instruments and ETAS Set-up Joint Venture to Meet Evolving Needs in Automotive Electronics Software Validation

National Instruments (Nasdaq: NATI) and ETAS GmbH have signed definitive agreements to jointly design, build, and service pre-integrated Hardware-in-the-Loop (HiL) systems. By pooling their strengths both companies strive for improving test and validation of software in automotive electronics, including electronic control units (ECUs) and sensors, to meet current and future customer requirements.

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The agreements will establish a deeper partnership between two innovators with decades of experience in the automotive industry. By combining the NI software-defined platform and comprehensive I/O capabilities with ETAS expertise in developing and integrating HiL solutions, the partnership will deliver new test offerings to meet customer needs in the rapidly evolving automotive sector driven by electrification and advanced driver assistance systems (ADAS).

Each company will own 50 percent of the joint venture, which will be headquartered in Stuttgart, Germany. The completion of the transaction is subject to customary conditions including regulatory and antitrust clearances and is expected to close in June 2019.

“ETAS has an exceptional team with experience in development and integration of HiL systems for the automotive industry,” said Eric Starkloff, NI President and Chief Operating Officer (COO). “We believe their quality of service and global deployment presence combined with our innovative platform will enable this partnership to meet the quality and time to market demands of our customers and partners.”

“By establishing this joint venture, ETAS expects to extend the application of HiL systems to new areas such as automated driving,” said Friedhelm Pickhard, the chairman of the board of management of ETAS GmbH. “NI has a leading platform for automated test and consistent focus on innovation. Building on their platform will enable the joint venture to deliver new HiL solutions and progress with regard to the early validation of automotive electronics software.”

The 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. The strength of the NI and ETAS 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. The systems offered by the joint venture will provide a powerful solution, helping facilitate shorter design cycles, reduced test time and faster time to market.

Forward-Looking Statement Safe Harbor

This release contains "forward-looking statements," including statements that the partnership will leverage NI’s software-defined platform with ETAS global solutions, striving for improving test and validation of software in automotive electronics, including ECUs and sensors, to meet current and future customer requirements, that the partnership will deliver new test offerings to meet customer needs in the rapidly evolving automotive sector, that the transaction is expected to close in June 2019, our belief that their quality of service and global deployment presence combined with our innovative platform will enable this partnership to meet the quality and time to market demands of our customers and partners, that the development of modern vehicles is continuing to become more complex, helping solve the development challenges in the automotive industry. That the systems offered by the joint venture will provide a powerful solution, helping facilitate shorter design cycles, reduced test time and faster time to market, that ETAS expects to extend the application of HiL systems to new areas such as automated driving, and that the joint venture will be able to deliver new HiL solutions and progress with regard to the early validation of automotive electronics software. These statements are subject to a number of risks and uncertainties, including the ability to satisfy and the timing of the satisfaction of the closing conditions to the transaction, 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 employees, 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 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 our forward-looking statements, which speak only as of the date such statements are made. We undertake 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.

About National Instruments

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.

About ETAS

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 multifaceted 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.

National Instruments, NI and ni.com are trademarks of National Instruments. Other product and company names listed are trademarks or trade names of their respective companies. (NATI-F)