Texas Instruments acquired Libit Signal Processing Ltd. for approximately $365 million in the second quarter of 1999. TI’s filing gives June 30, 1999, as the acquisition date. Libit developed cable-modem silicon and internet telephony software, technologies TI viewed as part of its broadband cable effort.
What did Libit make?
Libit developed silicon solutions and complex system-level internet telephony software for cable modems, cable set-top boxes, cable head-ends and digital television products. TI said these technologies enabled high-speed internet access. Contemporary trade coverage described Libit as an Israeli cable-modem chipset specialist. Texas Instruments’ second-quarter 1999 filing and EE Times’ June 22, 1999 report provide the respective company and industry accounts.
How much did TI pay, and when?
Contemporary reports described the transaction as a $365 million cash acquisition. TI’s later filing recorded the acquisition at approximately $365 million in the second quarter and identifies June 30, 1999, as its acquisition date. The press reports establish the announced cash terms; the filing supplies the accounting and date detail.
Why did Texas Instruments acquire Libit?
At the time, coverage placed the deal within TI’s push into broadband cable and cable-modem technology. EE Times connected Libit’s silicon with internet telephony software from TI’s separately announced Telogy Networks acquisition, describing a planned reference design for next-generation cable modems. That was the strategic plan reported around the deal, not proof that a particular design or product later reached the market. EE Times reported the product strategy, while Globes’ June 21, 1999 report said TI planned to merge Libit into its broadband cable telecommunications business unit and develop it as an important development center. The latter is a contemporaneous description of the plan, not confirmation of Libit’s subsequent organizational history.
#1 Best Overall
- Makes understanding math and science topics quicker and easier — ideal for middle school through college
- Built-in MathPrint feature allows you to input and view math symbols, formulas and stacked fractions exactly as they appear in textbooks
- Graph in vibrant colors to make faster, stronger connections. Powered by a TI Rechargeable Battery that can last up to one month on a single charge.
- 4-year subscription for the TI-84 Plus CE online calculator included with purchase
- Lightweight yet durable enough to withstand the demands of the classroom year after year
What did TI disclose about Libit’s unfinished development projects?
TI recorded a $52 million charge for acquired in-process research and development, based on an appraisal of Libit’s development projects. Its filing described the following acquisition-period assumptions and estimates:
- 22% discount rate: the rate TI selected for Libit’s in-process technologies.
- Expected cash-flow start: TI projected that operating cash flows from the technologies would begin in 2000.
- Remaining work: as of June 30, 1999, Libit management estimated $5 million and 492 engineer-months to complete the projects.
These figures are historical accounting disclosures and forecasts made at the time. They do not establish when projects were completed, whether they became commercial products, or what financial return they generated. TI’s second-quarter 1999 filing is the source for the charge, valuation assumptions and project estimates.
Rank #2
- Fundamental, two-line calculator that combines statistics and advanced scientific functions for high school math and science
- Two-line display shows the entry and calculated result at the same time for easy understanding of the calculation
- Fraction features, conversions, and basic scientific and trigonometric functions
- Solar and battery powered
- Approved for use on SAT, ACT and AP exams
What the deal record does—and does not—show
TI’s company history lists Libit among its 1999 acquisitions (TI company history). The available contemporaneous coverage and filing establish the transaction, Libit’s technology focus and TI’s acquisition-period accounting. They do not establish Libit’s later status as a separate organization, a definitive product lineage for its technology, present-day availability of Libit hardware, or the projects’ eventual commercial outcomes.
Quick Recap
Best Value
- Color Screen. The screen size is 320 x 240 pixels (3.5 inches diagonal) and the screen resolution is 125 DPI; 16-bit color
- Rechargeable battery included. Can last up to two weeks on a single charge
- Handheld-Software Bundle. Includes the TI-Inspire CX Student Software delivering enhanced graphing capabilities and other functionality.
- Thin Design and lightweight with easy touchpad navigation.Quick alpha keys
- Six different graph styles and 15 colors to select from for differentiating the look of each graph drawn
Rank #4
- Ideal for curricula in which graphing technology may not be permitted.
- MultiView display shows multiple calculations at the same time on screen.
- MathPrint shows math expressions, symbols and stacked fractions as they appear in textbooks
- Ideal for high school through college: Algebra 1 & 2, Geometry, Trigonometry, Statistics, Calculus, Biology, etc.
- Convert fractions, decimals and terms including Pi into alternate representations.
Rank #3
- View multiple calculations at the same time: Compare results and explore patterns on-screen with the MultiView display that supports up to four lines
- See math exactly as it appears in textbooks: Display math expressions, symbols and stacked fractions exactly the way they appear in textbooks — no need to adapt to a technical syntax; provides quick access to frequently used functions
- Scientific notation output: View scientific notation with the proper superscripted exponents and see the output in scientific notation
- Explore (x,y) table of values: Students can easily explore an (x,y) table of values for a given function automatically or by entering specific x values
- The TI-30XS MultiView scientific calculator is ideal for general math, Pre-Algebra, Algebra 1 and 2, Geometry, Statistics, general science, Biology and Chemistry
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