TI completes sale of sensors business

Texas Instruments Inc. (TI) announced it has completed the sale of its Sensors & Controls business to affiliates of Bain Capital LLC, a leading global private investment firm, for $3 billion in cash.

The former Sensors & Controls business has adopted the name Sensata Technologies, and will continue to be headquartered in Attleboro, Massachusetts, and maintain additional manufacturing and technology development centers located in Brazil, China, Holland, Japan, Korea, Malaysia and Mexico, as well as sales offices around the world.

TI expects to recognize an after-tax gain in the range of $1.6-to-$1.7 billion from the sale in the current quarter. The sale did not include the RFID systems operation, which remains part of Texas Instruments.