updated 04:45 pm EDT, Mon April 4, 2011
TI buys National Semiconductor for 6.5b
Texas Instruments late Monday said it was buying out National Semiconductor. The deal, worth $6.5 billion in a straight shares-for-cash deal, was described as mutual and already approved by the boards of both companies. They expected the deal to be cleared by government regulators in six to nine months.
The two were vague on the motivations behind the acquisition. They explained that there would be a larger overall range of chips. National would also get access to a sales presence about 10 times larger than it has today.
Both companies make individual parts, but TI has primarily made whole chips for devices like the BlackBerry PlayBook and LG Optimus 3D. National could help provide more advanced individual components to upgrade its technology.