Texas Instruments to Buy National Semiconductor
In a combination of two of the nation's primary producers of chips used in CE products, Texas Instruments has agreed to purchase rival National Semiconductor.
The deal is for $6.5 billion in the all-cash transaction.
"National has an excellent development team, and its products combined with our own can offer customers an analog portfolio of unmatched depth and breadth," TI CEO Rich Templeton said in a statement. "In recent years, National's management team has done an outstanding job of improving margins and streamlining expenses, which upon close will increase TI's profitability and earnings per share, excluding transaction costs."