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.
Texas Instruments
In 2006, Bain Capital LLC, a private equity firm, purchased the Sensors & Controls division for $3.0 billion in cash. The RFID portion of the division remained part of TI, transferring to the Application Specific Products business unit of the Semiconductor division, with the newly formed independent company based in Attleboro taking the name Sensata Technologies.