DALLAS - Texas Instruments Inc. (TI) announced the signing of a definitive agreement to sell its Sensors & Controls business to affiliates of Bain Capital LLC, for $3 billion in cash.
Sensors & Controls, headquartered in Attleboro, Mass., supplies engineered sensors and controls to the appliance, climate control, industrial, automotive, lighting, and aircraft markets.
With revenue exceeding $1 billion annually, Sensors & Controls has about 5,400 employees in the Americas, Europe, and Asia. The sale will not include the radio frequency identification (RFID) systems operations, which will remain part of TI.