Texas Instruments to buy National Semiconductor for $6.5 billion

Texas Instruments will purchase fellow analog chipmaker National Semiconductor for $6.5 billion, the companies announced today.

TI is paying cash for National, and both boards have already approved the deal. TI says the company will be “10 times larger” after the acquisition. Combined, the two could capture 17 to 18 percent market share, company executives said on a conference call this afternoon. Because it will have to clear some regulatory hurdles, executives expect the deal to close in six to nine months — via redwolf.newsvine.com