Texas Instruments
In 1930, J. Clarence Karcher and Eugene McDermott founded Geophysical Service, an early provider of seismic exploration services to the petroleum industry. In 1939, the company reorganized as Coronado Corp., an oil company with Geophysical Service Inc (GSI), now as a subsidiary. On December 6, 1941, McDermott along with three other GSI employees, J. Erik Jonsson, Cecil H. Green, and H.B. Peacock purchased GSI. During World War II, GSI expanded their services to include electronics for the U.S. Army, Signal Corps, and the U.S. Navy. In 1951, the company changed its name to Texas Instruments, with GSI becoming a wholly owned subsidiary of the new company.
Invention of the integrated circuit
In April 1960, Texas Instruments announced multivibrator #502 as the world's first integrated circuit available on the market. The company assured that contrary to the competitors they actually sell their product, at a price of US$450 per unit or US$300 for quantities larger than 100 units. However, the sales began only in the summer of 1961, and the price was higher than announced. contained two transistors, four diodes, six resistors and two capacitors, and repeated the traditional discrete circuitry. The device contained two Si strips of 5 mm length inside a metal-ceramic housing. One strip contained input capacitors; the other accommodated mesa transistors and diodes, and its grooved body was used as six resistors. Gold wires acted as interconnections.