U.S. semiconductor maker, Texas Instruments (TI), is acquiring California-based National Semiconductor for around $6.5 billion. The deal, which has been approved by the boards of directors of both companies, is expected to be completed in next six to nine months. The Texas-based company intends to fund the purchase with a combination of existing cash balances and debt. After the transaction, National will become part of TI’s analog segment, and sales of analog semiconductors will represent almost 50% of TI’s revenue.
Click here for the release from Texas Instruments.