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Texas Instruments Inc. is buying National Semiconductor for $6.5 billion in a marriage of two of the world's premier makers of analog chips, which are widely used in electronics to transform signals such as sound into digital form that computers can understand.
He said Texas Instruments' recent decision to exit the mobile-phone "baseband" business (chips that help phones connect to cellular networks) has put pressure on TI to find ways to replace the lost revenue.
Ashok Kumar, an analyst with Collins Stewart, said he expects the deal will clear antitrust scrutiny because despite consolidation in the analog chip market, "the market is pretty brutal" and pricing is aggressive.