Eugene McDermott
In 1951, McDermott, along with Cecil Howard Green, Patrick E. Haggerty, and J. Erik Jonsson co-founded Texas Instruments. This was done when the company changed its name to Texas Instruments; GSI becoming a wholly owned subsidiary of the new company. This acknowledged that the company had changed its focus from one primarily devoted to oil exploration to one focused on manufacturing. McDermott was the Chairman of TI from 1951-1957, Chairman of the Executive Committee of Board of Directors from 1957-1964 and Director until his death in 1973. During this period of time, Texas Instruments rose to be one of the world's largest corporations.
History of Dallas (1946–74)
In 1958 a version of the integrated circuit was invented in Dallas by Jack Kilby of Texas Instruments; this event punctuated the Dallas area's development as a center for high-technology manufacturing (though the technology Mr. Kilby developed was soon usurped by a competing technology simultaneously developed in the "Silicon Valley" in California by engineers who would go on to form Intel Corporation). During the 1950s and 1960s, Dallas became the nation's third-largest technology center, with the growth of such companies as Ling-Temco-Vought (LTV Corporation) and Texas Instruments.