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.