Texas Instruments acquires National Semiconductor

Analogue semiconductors producers Texas Instruments (TI) and National Semiconductor have signed a definitive agreement under which TI will acquire National for $25 (£15.4) per share in an all-cash transaction of about $6.5bn.

Upon close of the transaction, National, which brings a portfolio of 12,000 analogue products, becomes part of TI’s analogue segment and sales of analogue semiconductors will represent almost 50 per cent of TI’s revenue.

The combined company also will benefit from National’s manufacturing operations, located in Maine, Scotland and Malaysia, which TI will continue to operate.

The transaction is expected to close in six to nine months.