National Semiconductor, acquired by Texas Instruments is a company.
Key people at National Semiconductor, acquired by Texas Instruments.
Key people at National Semiconductor, acquired by Texas Instruments.
# National Semiconductor: Acquired by Texas Instruments
National Semiconductor was an analog semiconductor company that designed, developed, and manufactured semiconductor products before being acquired by Texas Instruments in 2011[4]. The company specialized in analog semiconductors and power management solutions, serving customers across multiple markets who needed products to improve performance and efficiency in electronic systems[1].
Prior to acquisition, National Semiconductor generated approximately $1.6 billion in analog revenue in 2010, positioning it as a significant player in the analog chip market[2]. The company maintained manufacturing operations in three countries—Maine, Scotland, and Malaysia—and employed around 550 workers at its South Portland, Maine facility alone[2].
Texas Instruments announced its acquisition of National Semiconductor on April 4, 2011, agreeing to purchase the company for $25 per share in an all-cash transaction valued at approximately $6.5 billion[1]. This represented a 78% premium over National's closing price the day before the deal was announced[2]. The transaction closed on September 23, 2011[4].
The strategic rationale centered on complementary product portfolios. TI, which generated $6 billion in analog revenue in 2010, sought to leverage its much larger sales force—which would become 10 times larger than National's—to accelerate growth and expose National's strong power management capabilities to more customers and markets[1][2]. National's manufacturing operations, particularly its facilities in Maine, Scotland, and Malaysia, provided additional production capacity that TI planned to continue operating[1].
The acquisition combined the first and second-ranked companies in analog semiconductors, according to industry trade analysts[3]. During FTC review, economic consultants demonstrated that while the combined firm would have nearly 45,000 analog products, the two companies manufactured complementary rather than substitute products, with overlaps occurring in areas where products served different purposes[3]. This analysis supported regulatory approval of the transaction.