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April 27, 2006 / 3:23 PM

TI sells unit to Bain for $3 billion

BOSTON, April 27 (UPI) -- Bain Capital LLC of Boston paid $3 billion in cash to buy Texas Instruments Inc.'s sensors and controls business.

Bain's newest asset will be renamed Sensata Technologies but continue to be headquartered in Attleboro, Mass., Bain said Thursday. Sensata Technologies employs 5,400 people, including 3,750 in the Americas, 1,350 in Asia, and 300 in Europe.

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TI expects to recognize an after-tax gain in the range of $1.6 billion to $1.7 billion from the sale, which did not include the radio frequency identification systems operation.

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