May 28, 2018
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TI acquisition of NatSemi clears regulatory hurdles

By Matt Wickenheiser, BDN Staff

Texas Instruments Inc.’s proposed acquisition of National Semiconductor has cleared all regulatory reviews, the companies said Wednesday morning, moving the deal ahead.

The companies said they expect the transaction to close on September 23, a bit ahead of the of the six- to nine-month time frame that was originally contemplated when the deal was announced on April 4.

The $6.5 billion deal marries two of the world’s top producers of analog chips, which are used to take signals from the physical world – such as sound – and interpret them in the digital world, so computers can understand them.

National Semiconductor is one of South Portland’s largest employers, with 550 workers at its fabrication facility. The plant underwent a $58 million expansion in 2004 to meet increased demand for its analog chip products.

The deal is the latest example of consolidation among big players in the technology world as trends such as the explosion in smartphones have shaken up the competitive landscape. Longtime foes have joined forces while friendships have frayed as the boundaries between companies’ business lines have blurred.

In scooping up National Semiconductor, TI is getting a storied Silicon Valley company whose history stretches back more than 50 years and is known for its power-management chips.

Material from the Associated Press was used in this report.

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