Texas Instruments to sell sensors and controls business
Dallas, TX — Texas Instruments (TI) has signed a definitive agreement to sell its Sensors & Controls business to affiliates of Bain Capital LLC , a global private-equity investment firm, for $3 billion cash. The deal does not include the radio frequency identification (RFID) systems operations.
The Attleboro, MA-based group supplies engineered sensors and controls to the appliance, climate control, industrial, automotive, lighting, and aircraft markets. Its revenue exceeds $1 billion annually. It employs approximately 5,400 in the Americas, Europe, and Asia. The current management team is expected to continue to lead the organization.
TI says the move will allow it to focus on high-growth, core, digital-signal-processing and analog semiconductor opportunities. Its board of directors has approved the sale. Completion should occur in the first half of 2006 and is contingent upon customary regulatory approvals.
—Control Engineering Daily News Desk
Jeanine Katzel, senior editor, email@example.com