Proposed Acquisition by Texas Instruments Incorporated of Silicon Laboratories Inc.

Reference:

400-140-2026-005

Notifying Party:

Texas Instruments Incorporated (“TI”) and Silicon Laboratories Inc. (“Silicon Labs”)

Legal Representative(s):

Allen & Gledhill LLP

Notifying Date:

9 June 2026

Summary of Transaction:

1.     the names of the merger parties; 

TI, together with all its subsidiaries (the “Acquirer”) and Silicon Labs, together with all its subsidiaries (the “Target”) (together, the “Parties”). 

2.      a description of the transaction; 

The transaction relates to the anticipated acquisition by TI of 100% of the issued and outstanding shares of Silicon Labs (the “Proposed Transaction”). 

3.     a description of the business activities of the merger parties worldwide and in Singapore; 

TI is a public company listed on the Nasdaq Global Select Market (“Nasdaq”). It is a global semiconductor company that designs, manufactures, and sells analog and embedded processing chips to electronics designers and manufacturers all over the world. The Acquirer’s global activities extend to, and include Singapore. 

Silicon Labs is a public company listed on the Nasdaq. It is a U.S.-headquartered fabless semiconductor group that primarily designs and develops wireless connectivity solutions with integrated system-on-chips (“SoCs”). Silicon Labs does not own or operate fabrication facilities and engages in design, sales, and customer support related activities worldwide. The Target’s global activities extend to, and include Singapore. 

4.     a description of the overlapping goods or services, including brand names; 

The Parties overlap in the supply of semiconductor products, namely: 

a)     wireless connectivity SoCs;

b)     non-wireless microcontroller units (“MCUs”);

c)     power management integrated circuits (“PMICs”);

d)     sensors; and

e)     universal serial bus (“USB”) bridges 

(the “Overlapping Products”). 

5.     a description of substitute goods or services from demand-side and supply-side considerations;

For all the Overlapping Products, the Parties submit that the products of the Parties’ competitors are close substitutes for the Parties’ products. 

6.     the Applicant’s views on: 

(i)     the definition of the relevant market(s); 

The Parties consider that the relevant product markets for the purposes of this notification are: 

a)     the global supply of wireless connectivity SoCs;

b)     the global supply of MCUs;

c)     the global supply of PMICs;

d)     the global supply of sensors; and

e)     the global supply of USB bridges 

(the “Relevant Markets”). 

(ii)   the way in which competition functions in this market; 

The Parties are of the view that the Relevant Markets are highly fragmented and dynamic, with several established, large global semiconductor suppliers, and with low barriers to entry and expansion. 

Customers in the Relevant Markets are typically large and sophisticated companies and are all able to switch and mix between different suppliers. 

(iii)  barriers to entry and countervailing buyer power; and 

Barriers to entry

The Parties submit that there are no significant barriers to entry across all the Relevant Markets. 

The prevalence of fabless semiconductor manufacturers – including the Target – demonstrates the low barriers to entry, as suppliers can compete effectively without the need to invest in costly fabrication facilities. 

Countervailing buyer power

The Parties’ customers are all able to switch and mix between different suppliers and are typically large and sophisticated companies which are well-placed to negotiate against the behaviour of their service providers. 

(iv)  the competitive effects of the merger (non-coordinated, coordinated, vertical and/or conglomerate effects, as relevant). 

Non-coordinated effects

The Proposed Transaction will not give rise to any non-coordinated effects in each of the Relevant Markets in view of the following: 

a)     the Parties are modest players in a fragmented global market, with many significant competitors;

b)     the Parties’ customers are all able to switch and mix between different suppliers and are typically large and sophisticated companies which are well-placed to negotiate against the behaviour of their service providers;

c)     there are low barriers to entry and expansion; and

d)     the Parties are not close competitors in the Relevant Markets and their activities are complementary. 

Coordinated effects

The Proposed Transaction will not give rise to any coordinated effects for the Relevant Markets in view the following: 

a)     each of the Relevant Markets will remain extremely competitive with the presence of a multitude and range of existing competitors of varying scales of operations;

b)     suppliers of semiconductor products across all the Relevant Markets compete on the basis of product differentiation and are constantly innovating to offer new and improved products on the market;

c)     pricing of semiconductor products across all the Relevant Markets is typically negotiated on an individual basis and is based on a variety of pricing models; and

d)     customers generally have the knowledge and expertise to make well-informed comparisons of alternatives available on the market, which facilitates the process of switching between different suppliers in response to price changes or any other reason. 

Vertical and conglomerate effects

The Proposed Transaction would not give rise to any vertical effects as the Proposed Transaction gives rise to only a few very limited potential or actual supply relationships between the Parties. 

The Proposed Transaction would not give rise to any conglomerate effects as neither party currently bundles nor ties its products. The Proposed Transaction would not give the Acquirer the ability or incentive to pursue such a strategy. 

Consultation

Interested parties are invited to submit their views on the Proposed Transaction. When submitting confidential information, interested parties should take note of the procedures outlined in CCS Guidelines on Merger Procedures. 

Comments should reach CCS no later than 22 July 2026, 5 p.m. Please write or email your comments (titled: Comments on the Proposed Acquisition by Texas Instruments Incorporated of 100% of the issued and outstanding shares of Silicon Laboratories Inc.) to: 

Email: ccs_consultation@ccs.gov.sg 

Attention: Celestine Song, Senior Assistant Director (Government Advocacy and Markets Division)

Supporting Documents

Interested third parties may request in writing to obtain more information on the Proposed Transaction. 

Please write or email your submission (titled: Comments on the Proposed Acquisition by Texas Instruments Incorporated of 100% of the issued and outstanding shares of Silicon Laboratories Inc.) to the above contact details.