Texas Instruments
Texas Instruments was founded by Cecil H. Green, J. Erik Jonsson, Eugene McDermott, and Patrick E. Haggerty in 1951. McDermott was one of the original founders of Geophysical Service Inc. (GSI) in 1930. McDermott, Green, and Jonsson were GSI employees who purchased the company in 1941. In November, 1945, Patrick Haggerty was hired as general manager of the Laboratory and Manufacturing (L&M) division, which focused on electronic equipment. By 1951, the L&M division, with its defense contracts, was growing faster than GSI's Geophysical division. The company was reorganized and initially renamed General Instruments Inc. Because there already existed a firm named General Instrument, the company was renamed Texas Instruments that same year. From 1956 to 1961, Fred Agnich of Dallas, later a Republican member of the Texas House of Representatives, was the Texas Instruments president. Geophysical Service, Inc. became a subsidiary of Texas Instruments. Early in 1988 most of GSI was sold to the Halliburton Company.
Texas Instruments
For the fiscal year 2017, Texas Instruments reported earnings of US$3.682 billion, with an annual revenue of US$14.961 billion, an increase of 11.9% over the previous fiscal cycle. Texas Instruments shares traded at over $82 per share, and its market capitalization was valued at over US$88.0 billion in October 2018. As of 2018, Texas Instruments ranked 192nd on the Fortune 500 list of the largest United States corporations by revenue.
Today, TI is made up of four divisions: analog products, embedded processors (EP), digital light processing (DLP), and educational technology (ET).