Keysight Technologies to Acquire ESI Group For €913M

- Advertisement -
- Advertisement -
  • Keysight aims to expand its software prototyping capabilities in computer-aided engineering with the acquisition of ESI Group.
  • The completion of the acquisition of the controlling block of ESI shares is anticipated to occur in the fourth quarter of 2023

Test and measurement company, Keysight Technologies, is set to acquire the entire share capital of virtual prototyping solutions provider, ESI Group, for 155 euros per share in an all-cash transaction. The acquisition will value ESI Group’s fully diluted share capital at 913 million euros.

With the acquisition of ESI Group, Keysight aims to expand its software prototyping capabilities in computer-aided engineering, as industries increasingly focus on virtualisation to enable virtual prototyping of products, manufacturing processes, and workflows.

Satish Dhanasekaran, President and CEO of Keysight, expressed his enthusiasm for the acquisition, stating that it aligns with the company’s strategy of providing software-centric solutions with advanced simulation capabilities. “The shared culture of innovation between Keysight and ESI Group will create value for all stakeholders,” he added.

- Advertisement -

Keysight made a binding offer to certain shareholders of ESI Group on June 28, 2023, to acquire a controlling block of ESI Group’s share capital and voting rights. Following this, Keysight will file a proposed mandatory tender offer for the remaining outstanding shares of ESI Group. If the legal conditions are met, a squeeze-out procedure will be initiated, resulting in the delisting of ESI Group from Euronext Paris Exchange.

The completion of the acquisition of the controlling block of ESI shares is anticipated to occur in the fourth quarter of 2023, followed by the tender offer shortly thereafter. J.P. Morgan Securities LLC is serving as the exclusive financial advisor to Keysight, while Paul Hastings LLP is acting as the legal advisor.

Cristel de Rouvray, CEO of ESI Group, also expressed delight at the announcement, viewing it as a significant milestone for ESI. “Over the past four years, our entire team has been dedicated to transforming ESI Group into a leading actor in the industrial software and simulation sectors. This combination with Keysight will enable ESI to enter a new phase of its development,” she said.

Founded in 1973, ESI Group is a prominent provider of virtual prototyping solutions in the automotive and aerospace sectors. The company provides advanced software solutions that simulate the behaviour of products during testing and real-life usage. Their portfolio includes predictive simulation technology for complex system designs, real-time digital twin solutions that combine model-driven simulation with data-driven tests, and immersive industrial solutions for workflow automation and virtual manufacturing.


 

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Ascend Performance Materials: Pioneering Innovation in the Electronics Sector

0
Bridging material advancements in plastics and technological progress, Ascend leads with customised solutions for a safer, reliable and greener tomorrow. Q. How would you explain...

DigiKey Expands Portfolio With 3PEAK

0
This collaboration adds amplifiers, interface components, data converters, and more, catering to industries such as communication, industrial, medical, and automotive.  In a strategic move aimed...

“Automotive And Medical Will Adopt More Printed Electronics”

0
The automotive industry is experiencing a revolution. But is this revolution limited to the evolution of powertrains? Salil Musale, MD, Naxona (Astarc Group), chats...

Buzz

India’s First Portable Liquid-Cooled E-Scooter Battery Unveiled By Bounce Infinity & Clean Electric

0
The efficient thermal management system of the liquid-cooled battery prevents overheating, thus improving both the safety and longevity of the battery. Bounce Infinity has collaborated...

Tata Electronics Finalizes Semiconductor Agreement With Tesla

0
Ashok Chandak, the head of the India Electronics and Semiconductor Association (IESA), highlighted that Tesla’s initiative to establish a network of domestic suppliers for...

Sterling Tools Targets 40% of Sales from EV Business by FY25

0
This increase is anticipated to come from the EV business segment, which is integral to the company's strategy to diversify its operations. With a certain...

Important Sectors

India’s First Portable Liquid-Cooled E-Scooter Battery Unveiled By Bounce Infinity & Clean Electric

0
The efficient thermal management system of the liquid-cooled battery prevents overheating, thus improving both the safety and longevity of the battery. Bounce Infinity has collaborated...

EV Network Achieves 100 Million Green Kilometers

0
In recognition of its contributions to zero-emission mobility, the company was awarded the 'Shoonya Infrastructure Champion' accolade at the 2nd Annual Shoonya Forum in...

Tata Electronics Finalizes Semiconductor Agreement With Tesla

0
Ashok Chandak, the head of the India Electronics and Semiconductor Association (IESA), highlighted that Tesla’s initiative to establish a network of domestic suppliers for...

Sterling Tools Targets 40% of Sales from EV Business by FY25

0
This increase is anticipated to come from the EV business segment, which is integral to the company's strategy to diversify its operations. With a certain...

Lanxess, IBU-tec Partner To Develop Iron Oxides For EV Batteries

0
The collaboration focuses on enhancing the performance of LFP (lithium iron phosphate) cathode materials and reducing batteries' carbon footprint. Utilizing local raw materials, the...

Manufacturing

Tata Electronics Finalizes Semiconductor Agreement With Tesla

0
Ashok Chandak, the head of the India Electronics and Semiconductor Association (IESA), highlighted that Tesla’s initiative to establish a network of domestic suppliers for...

Sterling Tools Targets 40% of Sales from EV Business by FY25

0
This increase is anticipated to come from the EV business segment, which is integral to the company's strategy to diversify its operations. With a certain...

Lanxess, IBU-tec Partner To Develop Iron Oxides For EV Batteries

0
The collaboration focuses on enhancing the performance of LFP (lithium iron phosphate) cathode materials and reducing batteries' carbon footprint. Utilizing local raw materials, the...

Log9 Materials Partners With Zeta Energy To Innovate Advanced Battery Systems

0
The collaboration presents substantial advantages for both companies. Zeta Energy's sophisticated lithium-sulfur materials could enable Log9 to enhance overall cell performance, opening up new...

Vulcan Energy Begins Lithium Chloride Production In Germany

0
Listed in both Australia and Frankfurt, the company has secured offtake agreements with automakers such as Volkswagen, Stellantis, and Renault. It reported that its...