Texas Instruments Inc.
Acquisitions
5
Major Deals Covered
$23.7B
Disclosed Deal Value
Texas Instruments's largest disclosed acquisition here is Burr-Brown Corporation for $7.6B in 2000. This page covers 5 major deals from 1999 to 2026, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Burr-Brown Corporation | 2000 | $7.6B | TI acquired Burr-Brown, an Arizona-based analog and mixed-signal semiconductor company, for approximately 7.6 billion dollars in an all-stock transaction in 2000. Burr-Brown was among the most respected precision analog semiconductor designers in the world, with particular strength in high-resolution data converters, audio digital-to-analog converters, operational amplifiers, and instrumentation amplifiers used in test and measurement, medical, and industrial applications. The acquisition was intended to strengthen TI's analog portfolio at a time when the company was establishing its leadership in analog semiconductors as a strategic priority. |
| National Semiconductor Corporation | 2011 | $6.5B | TI acquired National Semiconductor, the Santa Clara-based analog semiconductor pioneer, for approximately 6.5 billion dollars in cash in 2011, in what was at the time the largest semiconductor acquisition TI had ever executed. National Semiconductor had been one of the founding companies of the Silicon Valley semiconductor industry, and its product portfolioparticularly in power management, audio amplifiers, display drivers, and interface circuitswas complementary to but minimally overlapping with TI's existing analog catalog. The acquisition was explicitly motivated by TI's strategy to achieve leadership in the analog semiconductor market by product count, manufacturing scale, and customer reach. |
| Micron Technology Lehi, Utah Facility | 2021 | $900.0M | Texas Instruments acquired Micron Technology's 300-millimeter semiconductor fabrication facility in Lehi, Utah, for approximately 900 million dollars in 2021. The Lehi facility, which Micron had been operating for NAND flash memory production, was purchased by TI as a ready-made 300-millimeter manufacturing shell that could be converted to analog semiconductor production at significantly lower cost and faster timeline than constructing a new greenfield facility. The acquisition was a key element of TI's strategy to rapidly expand its 300-millimeter analog manufacturing capacity in the United States. |
| Unitrode Corporation | 1999 | $1.2B | TI acquired Unitrode Corporation, a Massachusetts-based power management semiconductor company, for approximately 2.5 billion dollars in 2000. Unitrode was a regarded specialist in power supply control integrated circuits, battery charger ICs, and power management components used in servers, telecom equipment, and portable electronicsproduct categories where TI had limited presence at the time of the acquisition. The deal was part of TI's late-1990s and early-2000s strategy of acquiring analog specialists to rapidly build the power management portfolio depth needed to compete effectively in the fast-growing semiconductor power management market. |
| Silicon Laboratories (Silicon Labs) | 2026 | $7.5B | All-cash agreement at $231 per share to add Silicon Labs' wireless connectivity SoCs for industrial and IoT devices to TI's embedded portfolio and move their production onto TI's own fabs over time. |
2026
$7.5B
All-cash agreement at $231 per share to add Silicon Labs' wireless connectivity SoCs for industrial and IoT devices to TI's embedded portfolio and move their production onto TI's own fabs over time.
Would be TI's largest deal since National Semiconductor in 2011, financed with cash and pre-arranged debt.
Pending; TI expects closing in the first half of 2027, subject to regulatory approvals.
2021
$900M
Texas Instruments acquired Micron Technology's 300-millimeter semiconductor fabrication facility in Lehi, Utah, for approximately 900 million dollars in 2021. The Lehi facility, which Micron had been operating for NAND flash memory production, was purchased by TI as a ready-made 300-millimeter manufacturing shell that could be converted to analog semiconductor production at significantly lower cost and faster timeline than constructing a new greenfield facility. The acquisition was a key element of TI's strategy to rapidly expand its 300-millimeter analog manufacturing capacity in the United States.
The Lehi facility acquisition provided TI with an immediately available 300-millimeter fab infrastructureincluding the building, cleanroom, and supporting utilitiesthat would have cost several billion dollars and taken several years to construct from scratch. TI began the conversion of the facility to analog chip production, investing additional capital in the process equipment and tooling specific to analog semiconductor manufacturing. The acquisition accelerated TI's timeline for 300-millimeter capacity expansion by several years relative to a greenfield construction approach.
The Lehi facility is being qualified and ramped for analog semiconductor production as part of TI's broader US manufacturing expansion program supported by the CHIPS and Science Act. The acquisition is viewed as an opportunistic transaction that TI executed at a favorable valuation, as Micron's decision to exit the Lehi facility and consolidate its NAND production created a unique window for TI to acquire high-quality 300-millimeter infrastructure at below-replacement cost.
2011
$6.5B
TI acquired National Semiconductor, the Santa Clara-based analog semiconductor pioneer, for approximately 6.5 billion dollars in cash in 2011, in what was at the time the largest semiconductor acquisition TI had ever executed. National Semiconductor had been one of the founding companies of the Silicon Valley semiconductor industry, and its product portfolioparticularly in power management, audio amplifiers, display drivers, and interface circuitswas complementary to but minimally overlapping with TI's existing analog catalog. The acquisition was explicitly motivated by TI's strategy to achieve leadership in the analog semiconductor market by product count, manufacturing scale, and customer reach.
The National Semiconductor acquisition made TI the world leader in analog semiconductors by revenue, adding approximately 1.5 billion dollars of annual revenue at the time of the transaction and expanding TI's product catalog by thousands of part numbers. National's manufacturing facilities, customer relationships, and field applications engineering organization were integrated into TI's operations, expanding TI's direct sales reach into customer accounts that had been primarily National relationships. The acquisition also added manufacturing capacity in Greenock, Scotland, and other facilities that contributed to TI's analog production capability.
The integration of National Semiconductor was executed over approximately two years and was considered largely successful from an operational standpoint, though the premium paidNational was acquired at approximately 70 percent above its pre-announcement trading pricegenerated some investor skepticism at the time. The combined analog product portfolio proved durable, with former National product lines continuing to generate meaningful revenue for TI more than a decade after the acquisition, validating the strategic rationale of analog portfolio aggregation as a source of competitive advantage.
2000
$7.6B
TI acquired Burr-Brown, an Arizona-based analog and mixed-signal semiconductor company, for approximately 7.6 billion dollars in an all-stock transaction in 2000. Burr-Brown was among the most respected precision analog semiconductor designers in the world, with particular strength in high-resolution data converters, audio digital-to-analog converters, operational amplifiers, and instrumentation amplifiers used in test and measurement, medical, and industrial applications. The acquisition was intended to strengthen TI's analog portfolio at a time when the company was establishing its leadership in analog semiconductors as a strategic priority.
The Burr-Brown acquisition added a portfolio of high-precision analog products and a loyal customer base in test and measurement and medical instrumentation markets that TI had not previously penetrated at significant scale. Burr-Brown's converter and amplifier product lines became core components of TI's signal chain catalog and contributed substantially to TI's ability to serve high-precision industrial and medical applications. The integration of Burr-Brown's design culture and engineering talent strengthened TI's precision analog design capabilities for decades after the acquisition.
The Burr-Brown acquisition is widely considered one of TI's most successful strategic acquisitions, delivering on its objectives of expanding analog portfolio depth, adding precision analog design expertise, and opening new customer relationships in medical and industrial instrumentation. Many Burr-Brown product lines remain in active production and volume production more than two decades after the acquisition, generating consistent revenue with minimal incremental development costa characteristic that validates TI's thesis about the longevity of well-designed analog semiconductor products.
1999
$1.2B
TI acquired Unitrode Corporation, a Massachusetts-based power management semiconductor company, for approximately 2.5 billion dollars in 2000. Unitrode was a regarded specialist in power supply control integrated circuits, battery charger ICs, and power management components used in servers, telecom equipment, and portable electronicsproduct categories where TI had limited presence at the time of the acquisition. The deal was part of TI's late-1990s and early-2000s strategy of acquiring analog specialists to rapidly build the power management portfolio depth needed to compete effectively in the fast-growing semiconductor power management market.
Unitrode's power supply controller and battery management product lines became foundational elements of TI's power management catalog and introduced TI to a set of industrial and computing power management customers that it might otherwise have taken many years to develop organically. Unitrode's engineering team brought deep expertise in switched-mode power supply design and power supply controller architecture that strengthened TI's applications and design capabilities in the power management space.
The Unitrode acquisition is considered a successful strategic bolt-on that contributed meaningfully to TI's power management portfolio depth and customer relationships. Several product families originating from Unitrode remain in active production and are widely used in industrial power supplies and battery management applications, generating long-tail revenue that validates TI's thesis about the durability of well-designed analog power management products.
TI's strategy has four parts. First, manufacturing: it has spent heavily on 300mm analog fabs in Richardson (RFAB2), Lehi, Utah (LFAB, bought from Micron in 2021 for $900 million) and Sherman, Texas, where SM1 began production in December 2025, with support from the U.S. CHIPS Act. Second, market focus on industrial and automotive customers, which account for most of revenue, plus fast-growing data center power demand. Third, a broad catalog and long product lives, so design wins keep paying for years. Fourth, channel control through ti.com and direct relationships. In 2026 TI added a rare large acquisition, agreeing to buy Silicon Labs for $231 per share (about $7.5 billion) to expand in wireless connectivity for industrial and IoT devices.
Texas Instruments operates an integrated semiconductor design and manufacturing model, specializing in high-margin analog chips and embedded processing solutions. The company manufactures tens of thousands of differentiated products sold to over 100,000 global customers across the industrial, automotive, personal electronics, communications, and enterprise systems sectors. Revenue is anchored by Analog Semiconductor Products (operational amplifiers, data converters, power management integrated circuits), which convert real-world signals into digital data, and Embedded Processing Hardware (microcontrollers, digital signal processors). Operating its own high-efficiency 300mm wafer fabrication facilities, TI maintains substantial structural cost advantages, low capital intensity per chip, long product lifecycles, and exceptional free cash flow margins.
In September 2011, TI acquired Silicon Valley rival National Semiconductor for $6.5 billion in cash, instantly adding 12,000 analog products, valuable power management patents, and a massive global customer base.
In August 2000, TI acquired Tucson-based Burr-Brown for $7.6 billion in stock, securing the gold standard in high-precision operational amplifiers and data converters, establishing TI's dominance in signal chain electronics.
In October 2021, TI acquired Micron Technology's 300mm memory fabrication facility in Lehi, Utah, for $900 million, quickly converting the cleanrooms to manufacture TI's 65nm and 45nm analog and embedded chips.
In early 2026, TI entered into a definitive agreement to acquire Austin-based Silicon Laboratories for approximately $7.5 billion in cash, expanding its portfolio into low-power wireless microcontrollers for IoT, smart home, and industrial mesh networks.
In 1999, TI acquired Israeli short-range wireless chip startup Butterfly VLSI for $50 million. The deal brought talented wireless engineers to TI, including current Chairman and CEO Haviv Ilan.
In May 2009, TI acquired Austin-based Luminary Micro, the first company to commercialize ARM Cortex-M3 microcontrollers, kickstarting TI's Stellaris and MSPM0 microcontroller families for industrial automation.
In 1999, TI acquired Telogy Networks for $435 million in stock, securing premier embedded Voice-over-IP (VoIP) software and DSP processing algorithms that powered early enterprise IP telephony.
In 2009, during the depths of the global financial crisis, TI opportunistically purchased Spansion's unfinished 300mm fab in Richardson, Texas, for a fraction of its replacement cost, turning it into RFAB, the world's first 300mm analog facility.
TI sold its capital-intensive DRAM manufacturing operations to Micron Technology in 1998 for $800 million in stock and notes, eliminating commodity memory losses and refocusing capital on high-margin proprietary analog chips.
TI pursues acquisitions only when target technologies directly complement its catalog (e.g., analog, wireless), fit its internal manufacturing model, generate returns above the cost of capital, and expand long-term free cash flow per share.
TI integrates target products into its global catalog, migrates chip manufacturing onto its internal low-cost 300mm fabs, and makes all components directly available to its 100,000 customers through ti.com.
TI maintains that large acquisitions will remain rare, focusing primarily on organic 300mm fab expansion in Texas and Utah while returning the vast majority of ongoing free cash flow to shareholders.
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