 In September 2000, Texas Instruments acquired the company for US$7.6 billion.The company was incorporated in Tucson, Arizona in 1956 by founders Page Burr (Princeton 1944) and Thomas R. Brown, Jr. (BS MIT 1949, MBA Harvard 1952) to commercialize semiconductor transistors; in 1959, the company posted its first profit.Brown eventually bought out Burr's share of the company.