Texas Instruments, makers of circuit board chips, DLP, calculators, and more, announced that they are purchasing its all time analog technology rival, National Semiconductor, for $6.5 billion in cash alone. Rich Templeton, president and chief executive officer of Texas Instruments said in a statement:

“This acquisition is about strength and growth.”

The purchase of National Semiconductor will make Texas Instruments 10 times larger, making it an even larger maker of analog components (used to convert information), and have a stronger foothold in a market where it is already a leader in. The purchase of National Semiconductor will give Texas Instruments access to their portfolio of industrial products. and in exchange, National Semiconductor will receive Texas Instrument’s sales force. The deal will also provide new growth opportunities and an extended market presence for products from National Semiconductor.

The deal is expected to take about 6-9 months for standard closing conditions.

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