Texas Instruments Inc. (TI) and National Semiconductor have signed a definitive agreement under which TI will acquire National for $25 per share in an all-cash transaction of about $6.5 billion. The boards of directors of both companies have unanimously approved the transaction.
Among other products, National's offerings include SolarMagic power optimizers, chipsets and integrated circuits for PV applications.
Upon close of the transaction, National becomes part of TI's analog segment, and sales of analog semiconductors will represent almost 50% of TI's revenue, according to the companies. National's headquarters will remain in Santa Clara, Calif.
SOURCE: National Semiconductor