DALLAS -- Texas Instruments said today it will sell its sensors and controls business to Bain Capital for $3 billion in cash. The deal is expected to close during the first half of this year.

The business employs some 5,400 workers globally and generates more than $1 billion annually from sales of sensors and controls for automotive, aircraft and appliance applications. 

TI said it is shifting more focus to DSPs and analog chips. In a press statement, chief executive Rich Templeton said, "TI will intensify its focus on our high-growth core digital signal processing and analog semiconductor opportunities."