Thursday, January 12, 2006
Texas Instruments Inc. has agreed to sell its sensors and controls unit to private investment firm Bain Capital LLC for $3 billion.
The $3 billion price was higher than the $2.5 billion The Wall Street Journal reported Dec. 23. A month earlier, R.W. Baird analyst Tristan Gerra reported TI had reached an agreement to sell its sensors business.
Based in Attleboro, Mass., TI’s sensors and controls business employs 5,400 globally and generates over $1 billion in annual revenue.
"The agreement is about unlocking value," TI CEO Rich Templeton said in a statement. "TI will intensify its focus on our high-growth core digital signal processing and analog semiconductor opportunities, while sensors and controls will have greater access to the investment and strategic resources it needs to fuel its future growth."
By: DocMemory
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