Texas Instruments Inc. is a company renowned for developing and commercializing semiconductor and computer technology. TI is the No. 3 manufacturer of semiconductors worldwide after Intel and Samsung, the No. 2 supplier of chips for cellular handsets after Qualcomm, and the No. 1 producer of digital signal processors (DSPs) and analog semiconductors, among a wide range of other semiconductor products. In 2010, the company was listed at number 223 on the Fortune 500.
Texas Instruments was founded by Cecil H. Green (SB and MS in electrical engineering), J. Erik Jonsson, Eugene McDermott, and Patrick E. Haggerty in 1951.
McDermott, Green, and Jonsson were Geophysical Service Incorporated (GSI) employees who purchased the company in 1941 on the day before Pearl Harbor was attacked. In November, 1945, Patrick Haggerty was hired as general manager of the Laboratory and Manufacturing (L&M) division.
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 rechristened Texas Instruments that same year.