Feb 3 (Reuters) – Texas Instruments is in advanced talks to buy chip designer Silicon Laboratories for about $7 billion, the Financial Times reported on Tuesday.
A deal between the two companies could be announced in the coming days, the newspaper said, citing people familiar with the matter.
Shares of Silicon Laboratories, which has a market capitalization of about $4.71 billion, surged 28% after the bell following the report, while Texas Instruments shares were down 1%.
Reuters could not immediately verify the report. Texas Instruments and Silicon Laboratories did not immediately respond to Reuters requests for comment.
The potential deal comes as chipmakers benefit from a surge in demand from technology companies ramping up compute infrastructure to power their AI ambitions.
The exact terms of the potential tie-up were not immediately clear, and it was possible that the timeline would slip or talks fall apart, the report added.
(Reporting by Abu Sultan in Bengaluru; Editing by Tasim Zahid and Vijay Kishore)
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