January 9, 2006 – Texas Instruments Inc. has agreed to sell its sensors and controls business to Bain Capital LLC for $3.0 billion in cash, in an effort to tighten its focus on its higher-growth digital signal processing and analog chips businesses.
Current management, including president Thomas Wroe Jr., will continue to lead the Attleboro, MA-based unit, which includes about 5400 employees worldwide and accounted for about $1 billion in revenues. TI will keep its radio-frequency (RFID) systems operations.
“This agreement is about unlocking value,” said CEO Rich Templeton, in a statement. “[The] sensors and controls [unit] will have greater access to the investment and strategic resources it needs to fuel its future growth.”
TI’s board has approved the sale, which is expected to be completed in 1H06 pending regulatory approval.