TI makes components but it sells "block diagrams", that is, superior and complete solutions
S-factor (S for solutions) revenue and profit benefit – a system’s strategic component pulls in an entire solution revenue and generates a superior profit
-- TI has to provide all solution’s elements (directly or indirectly via partners)
-- Strategically critical solution technologies are acquired or partnered
-- Power management (standard power products - a 2-year old new HPA group) was $1.77B in FY2010 - HPA group (standard signal chain products) was $1.79B
National is the second ranked power management IC vendor (after TI); nearly one-half of its total $$1.4B revenues comes from power management.
National is also well positioned to become the
industry's top IC vendor in terms of performance and valuation -- IF it can reduce its large GSA expenses - something, like changing a DNA, is very difficult to do.
National was founded in 1959; its revenues declined 50% from $2.7B in 1997 to $1.4B in 2010. For decades the company was wandering
in a digital desert pursuing "PC on chip" and other distractions; only in 2005 did National
reintroduce a word "analog" in its description.
BTW - it is also fairly obvious who will likely acquire whom next...