DULUTH, GA – Texas Instruments said it would purchase National Semiconductor for about $6.5 billion cash, according to published reports.

The deal, expected to close in six to nine months, combines two leading analog semiconductor makers.

The boards of directors of both firms have approved the terms, under which TI will pay $25 for each share of National Semiconductor’s common stock.

TI said it would finance the deal with existing cash and debt.