Texas Instruments has completed its multi-billion purchase of National Semiconductor Corp.
With US regulators having given the green light to the move, the American electronics firm has confirmed it has bought out its long-time rival in a deal worth $6.5 billion.
According to Texas, this deal means it will now take on a 17 per cent of the global analog chip market, allowing it to supply chips to many of the world's biggest electronics manufacturers.
Celebrating the completion of the takeover, the company's president and chief executive, Rich Templeton, said in a statement: "The closing of this transaction allows TI to expand its market presence with more leading-edge analogue products, greater manufacturing capacity, and the largest sales and applications team in the industry."
The Dallas-based company is the third-biggest manufacturer of semiconductors in the world, behind only Intel and Samsung in the global rankings.
Posted by Andre Dixon