Product category:
Gas, Chemical, Radiation and Magnetic Sensors
News Release from: Texas Instruments Sensors and Controls
Edited by the Engineeringtalk Editorial
Team on 12 January 2006
TI sells sensors and controls business
Texas Instruments is to sell its sensors and controls business to Bain Capital, a global private equity investment firm, for $3bn in cash.
Texas Instruments is to sell its sensors and controls business to Bain Capital, a global private equity investment firm, for $3bn in cash The sensors and controls business is headquartered in Attleboro, Massachusetts, USA, and supplies engineered sensors and controls to the appliance, climate control, industrial, automotive, lighting, and aircraft markets
This article was originally published on Engineeringtalk on 17 Aug 2004 at 8.00am (UK)
Related stories
Ranking recognises rocket-powered growth
American Sensor Technologies has been ranked fifth in Deloitte's Technology Fast 50 Programme for New Jersey.
Award recognises New Jersey's finest
American Sensor Technologies is a recipient of New Jersey's Finest Private Companies Award for 2004.
With revenue exceeding $1bn annually, the business has about 5400 employees in Europe, the Americas and Asia.
The sale will not include the radio frequency identification (RFID) systems operations, which will remain part of TI.
"This agreement is about unlocking value," said TI President and Chief Executive Officer Rich Templeton.
"TI will intensify its focus on our high-growth core digital signal processing and analogue semiconductor opportunities, while the sensors and controls business will have greater access to the investment and strategic resources it needs to fuel its future growth".
More than 50% of its sales are generated outside North America.
Steve Zide, Managing Director at Bain Capital, said: "We're enthusiastic about sensors and controls' future, and look forward to supporting the management team's plan to continue the company's growth and realise its long-term potential".
Bain Capital has a track record of purchasing non-core divisions of large, multinational companies and partnering with the management team and employees.
Thomas Wroe, President of Sensors and Controls, and the current management team will continue to lead the organisation.
"We are eager to start this new chapter in our history", said Wroe.
"We have made tremendous strides improving profitability while growing the business".
"This transaction will allow us to accelerate our growth and serve our customers more effectively".
Completion of the sale is contingent upon customary regulatory approvals.
• Texas Instruments Sensors and Controls: contact details and other news
• Email this article to a colleague
• Register for the free Engineeringtalk email newsletter
• Engineeringtalk Home Page
Search the Pro-Talk network of sites
