National Instruments Corp., which makes scientific measuring equipment and software, said Monday it is acquiring two companies for $89 million to increase its radio frequency product line.
NI said it’s buying AWR Corp. for $51 million, excluding $7 million in cash on the balance sheet. AWR makes design automation software for radio frequency components and is based in El Segundo, Calif.
NI is also buying Phase Matrix Inc., which makes radio frequency instruments. NI is paying $38 million for the San Jose, Calif., company.
Both companies will operate as wholly owned subsidiaries with their existing management teams, Austin, Texas-based NI said.
Shares of NI fell 29 cents to close at $28.79.
