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TI announces sale of memory business

Texas Instruments and Micron Technology Inc. have announced an agreement for Micron to purchase the assets of TI's semiconductor memory business for a combination of common stock and assumption of debt totaling about $800 million. The transaction includes the purchase of substantially all of TI's memory assets, as well as TI's shares in its two DRAM manufacturing joint ventures.

This transaction, expected to close the second half of this year, strengthens the strategic roadmap of each company. Micron expands its leadership in the memory market and its international presence, while TI solidifies its position as a company focused on digital signal processing and analog semiconductors.