Texas Instruments to sell sensors unit for 3 billion dollars
Texas Instruments said it has agreed to sell its sensors-and-controls business to Bain Capital LLC, a private buyout fund, for three billion dollars in cash.
The sensors division, based in Attleboro, Massachusetts, has 5,400 employees and more than one billion dollars in annual revenue. TI said the deal won’t include its radio frequency identification operations.
Over the past decade, Texas Instruments has narrowed its focus on developing chips for wireless communications and consumer electronics. The company has sold off other units that make personal computers, memory chips and defense electronics.
The sale is expected to close in the first half of 2006.
Source: Netscape News.
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