Texas Instruments today announced the signing of a definitive agreement to sell its Sensors & Controls business to affiliates of Bain Capital, a global private equity investment firm, for $3.0 billion in cash.
Sensors & Controls, which is headquartered in
‘TI will intensify its focus on our high-growth core digital signal processing and analogue semiconductor opportunities, while Sensors & Controls will have greater access to the investment and strategic resources it needs to fuel its future growth,’ said TI President and Chief Executive Officer Rich Templeton.
‘Sensors & Controls is geographically diversified with greater than 50 percent of its sales generated outside
TI’s Board of Directors has approved the sale, which is expected to be completed in the first half of 2006. Completion of the sale is contingent upon customary regulatory approvals.