TI sells sensor and controls unit for $3 bln

Texas Instruments Inc. said it is selling its sensors and controls unit to private equity firm Bain Capital for 3 billion dollars to focus on its mobile-phone chips business.

The sensors division makes products for vehicles, appliances, aircraft and lighting systems. Based in Attleboro, Massachusetts, it has 5,400 employees in the Americas, Europe and Asia.

Analysts said sensors sales have lagged growth at the rest of the company, though TI said it is keeping production of radio frequency identification tags used by retailers.

TI, the largest maker of chips that run mobile phones, has seen its share price gain 30% last year, partly because of expectations it would sell the sensors unit.

TI shares were down 1.1% at 34.07 dollars in mid-day trading Monday.