Thursday, May 14, 2009
TI Buys Luminary Micro
Dallas-based electronics and semiconductor manufacturer Texas Instruments announced Thursday that it has acquired Austin-based microcontroller supplier Luminary Micro. Financial terms of the deal, which closed Thursday, were not disclosed. TI explained that the acquisition will expand its microcontroller portfolio while providing its clients access to Luminary Micro's Stellaris family of Cortex-M3 processors. TI said Jim Reinhart, formerly Luminary Micro's chief executive, will lead TI's Catalog ARM MCU business as general manager. Luminary Micro’s Cortex-M3 operation will remain in Austin, TI noted, adding that it will now be known as TI AEC Austin. Luminary Micro was venture backed, and has scored funding from Adams Street Partners New Enterprise Associates, EXA Ventures and ATA Ventures. The firm last announced a funding round worth $25M in August of 2007.