DALLAS-Texas Instruments Inc. announced it plans to sell its Sensors & Controls business to affiliates of Bain Capital L.L.C., a private equity investment firm, for $3 billion in cash. TI’s stock was down slightly after the news to $34.07 per share.
TI’s Sensors & Controls division, headquartered in Attleboro, Mass., supplies engineered sensors and controls to the appliance, climate control, industrial, automotive, lighting and aircraft markets. TI said the sale does not include its radio frequency identification (RFID) systems operations.
TI, the world’s largest supplier of mobile phone chips, did not say what it would do with the $3 billion from the sale.
