8/17/2011 3:40 PM EDT
SAN FRANCISCO—Texas Instruments Inc. said Wednesday (Aug. 17) that its OMAP multimedia applications processor line is not for sale, contrary to widely circulated rumors.
A spokesperson for TI said via email that the company is aware of speculation in the press about the sale of the OMAP business and wanted to set the record straight. Rumors about the potential sale of the company's OMAP division are inaccurate, the spokesperson said.
"To be clear, these are rumors, plain and simple," the spokesperson said. "They are not true, and were not started by TI. TI remains committed to our core wireless business, which encompasses the OMAP applications processors and wireless connectivity solutions. And, we are committed to helping our customers succeed in the marketplace."
Rumors have been circulating for several weeks that TI was considering the sale of its OMAP division. Rumored suitors for the OMAP division included Broadcom Corp. and Advanced Micro Devices Inc. Last week, Will Strauss, principle analyst at market research firm Forward Concepts Inc., speculated that even Intel Corp. might be a potential fit for the ARM-based OMAP line.
TI previously declined to comment on the rumors, citing long-standing company policy not to comment on rumors or speculation about mergers, acquisitions or divestitures.