SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
20549
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FORM 8-K
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CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) November 26, 1996
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TEXAS INSTRUMENTS INCORPORATED
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(Exact name of Registrant as specified in its charter)
Delaware 1-3761
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(State of Incorporation) (Commission File No.)
75-0289970
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(I.R.S. Employer Identification No.)
13500 North Central Expressway
P. O. Box 655474, Dallas, Texas 75265
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(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code 972-995-2551
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ITEM 5. Other Events.
The information set forth in the Registrant's news release dated
November 26, 1996 (attached hereto as Exhibit 21) is incorporated herein
by reference to such news release.
ITEM 7. Exhibits.
Designation of
Exhibit in
this Report Description of Exhibit
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21 Registrant's news release
dated November 26, 1996
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
TEXAS INSTRUMENTS INCORPORATED
By /s/ O. WAYNE COON
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O. Wayne Coon
Chief Corporate Counsel and
Assistant Secretary
Date: November 26, 1996
Exhibit Index
Designation of
Exhibit in Paper (P)
this Report Description of Exhibit or Electronic (E)
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21 Registrant's news release E
dated November 26, 1996
EXHIBIT 21
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News Release
C-96061
Media Contacts:
Neil McGlone or Kim Quirk, 972-995-4961
Terri West, 281-240-4033 (Tuesday only)
(Please do not publish this number.)
DALLAS (November 26, 1996) -- Texas Instruments today announced it
has reached agreement on a broad 10-year cross-license agreement with
Samsung Electronics Co., Ltd., of Korea.
Over the life of the agreement, TI expects to receive royalty
payments of more than $1 billion in total.
This agreement replaces a previous five-year agreement that expired
at the end of 1995, and settles all pending litigation between the
companies.
"We are pleased with this agreement and the value it places on our
patented technology," said Richard J. Agnich, TI senior vice president
and general counsel. The payments Samsung will make in the first five
years of this new agreement are expected to slightly exceed the payments
they made over the life of the previous five-year agreement. Payments
over the second five years of the new agreement are expected to be lower
than those of the first five years.
The new cross-license, which runs until the end of 2005, covers a
broad base of patents, including those for semiconductors, personal
computers, consumer products and telecommunications equipment.
TI expects to accrue approximately $105 million in the fourth
quarter of 1996 for catch-up royalties due under the new agreement for
the first nine months of 1996.
With this agreement, TI has almost completed the 1995 round of
patent cross-license agreements with the major semiconductor
manufacturers. Earlier this year, TI reached 10-year cross-licensing
agreements with Fujitsu Limited, Oki Ltd. and Matsushita Electric
Industrial Co., Ltd. Negotiations continue with NEC and several smaller
firms. TI continues to expect a significant ongoing stream of royalty
revenue into the next century.
TI began in 1985 to more aggressively defend the unauthorized use
of its technology, and is credited by analysts for improving the value
of intellectual property for the entire semiconductor industry. This
effort is one of many to further add stability to TI's businesses.
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NOTE TO EDITORS: Texas Instruments Incorporated, headquartered in
Dallas, Texas, is a high-technology company with sales or manufacturing
operations in more than 30 countries. TI products and services include
semiconductors; defense electronics systems; software productivity
tools; notebook computers and consumer electronics products; electrical
controls; and metallurgical materials.
