Texas Instruments (SLAB) outlines proposed Silicon Labs merger and key risks

Rhea-AI Filing Summary

Texas Instruments and Silicon Labs describe a proposed merger under which the two companies plan to combine their businesses, positioning themselves as a global leader in embedded wireless connectivity solutions. The message from TI’s CEO to Silicon Labs employees emphasizes shared culture, engineering focus and career opportunities after the acquisition.

The communication explains that Silicon Labs will file a proxy statement for a special stockholder meeting to seek approval of the proposed transaction, and outlines that completion also depends on Hart‑Scott‑Rodino antitrust clearance and other regulatory and contractual conditions. It also highlights extensive forward‑looking risk factors, including potential deal failure, business disruption, employee retention challenges, litigation, unexpected costs and broader economic and industry pressures such as the global memory chip shortage.

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M&A and securities law analyst

Proposed TI–Silicon Labs merger advances, but completion remains conditional.

The communication presents a planned merger in which Texas Instruments would acquire Silicon Labs, combining analog, embedded processing and wireless connectivity portfolios. It is framed as strategically important for scale, end‑market depth and manufacturing capabilities, and stresses cultural alignment and employee opportunities.

However, the text makes clear the deal is not yet closed. It requires Silicon Labs stockholder approval via a special meeting, expiration or termination of Hart‑Scott‑Rodino waiting periods, additional governmental and regulatory approvals, and satisfaction of other merger‑agreement conditions. The forward‑looking statement section lists numerous risks, including failure to complete the transaction, stock price volatility, business disruption, employee retention, customer and supplier reactions, litigation and unexpected costs.

Overall, this is an early‑stage, strategic but still uncertain transaction. Future SEC filings, including the Silicon Labs proxy statement, will carry detailed terms, while subsequent updates on regulatory milestones and the stockholder vote will determine whether and when the merger actually closes.

FILED BY TEXAS INSTRUMENTS INCORPORATED

PURSUANT TO RULE 425 UNDER THE SECURITIES ACT OF 1933

AND DEEMED FILED PURSUANT TO RULE 14a-12 AND RULE 14d-2(b)

UNDER THE SECURITIES EXCHANGE ACT OF 1934

SUBJECT COMPANY: SILICON LABORATORIES INC.

COMMISSION FILE NO. 000-29823

From: Matt Johnson <Matt.Johnson@silabs.com>

Date: February 4, 2026 at 2:01:42 PM CST

To: “DL.All” <DL.All@silabs.com>

Subject: A Message from TI CEO Haviv Ilan | Excited about our future together

Team, I joined Haviv this morning in Dallas for the announcement, and he asked me to share this with all of you. I also encourage you to read more about our next chapter on The Circuit.

- Matt

_____________________________________________________________________________________

Silicon Labs Team,

I want to begin by saying how much I respect what you have built at Silicon Labs. Your team has earned a strong reputation because of your technical expertise, winning spirit and impressive results. It is clear that Silicon Labs’ success is powered by exceptional people, and it will be a privilege to shape the next chapter alongside you.

Together, we will create a global leader in embedded wireless connectivity solutions – combining Silicon Labs’ portfolio and expertise in mixed-signal solutions with Texas Instruments’ leading analog and embedded processing portfolio and our internally owned technology and manufacturing capabilities. Working together expands our ability to serve customers worldwide, delivering greater scale, deeper end market expertise and enhanced value and support.

What’s also important is how we achieve these results, and I believe that starts with the culture we create. Our two teams share common values and ethical principles that define who we are and how we behave. We are both driven by our love of solving customer challenges, innovating, engineering excellence and delivering cutting-edge technologies to customers. Above all, we are both committed to bringing out the best in our people and our communities.

I will be in Austin on Friday morning to visit with the team locally and around the world and am looking forward to meeting many of you and hearing from you then. You may have questions on what it’s like to be a TIer and the integration process. Having joined Texas Instruments from an acquisition earlier in my career, I can tell you that TI has been a welcoming work environment and great place to grow a career, filled with challenging and meaningful work. Our culture is anchored in doing what you love, making an impact and continuously growing. We are eager to share this with you.

- Haviv

Additional Information and Where to Find It

In connection with the proposed transaction, Silicon Laboratories Inc. (“Silicon Labs) plans to file a proxy statement with the Securities and Exchange Commission (the “SEC”) with respect to a special meeting of stockholders for purposes of obtaining stockholder approval of the proposed transaction. This communication is not a substitute for the proxy statement or any other document that Silicon Labs may file with the SEC. The definitive proxy statement (when available) will be sent or given to the stockholders of Silicon Labs and will contain important information about the proposed transaction and related matters. STOCKHOLDERS OF SILICON LABS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT SILICON LABS WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Stockholders and investors will be able to obtain free copies of the proxy statement and other relevant materials (when available) and other documents filed by Silicon Labs at the SEC’s website at www.sec.gov. Copies of the proxy statement (when available) and the filings that will be incorporated by reference therein may also be obtained, without charge, by contacting Silicon Labs’ Investor Relations at investor.relations@silabs.com or (512) 416-8500.

Participants in the Solicitation

Silicon Labs, Texas Instruments Incorporated (“Texas Instruments”) and their respective directors and executive officers may be deemed, under SEC rules, to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding Silicon Labs’ directors and executive officers is available in (a) Silicon Labs’ Annual Report on Form 10-K for the fiscal year ended December 28, 2024, including under the headings “Item 10. Directors, Executive Officers and Corporate Governance,” “Item 11. Executive Compensation,” “Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” and “Item 13. Certain Relationships, Related Transactions, and Director Independence,” which was filed with the SEC on February 4, 2025, and can be found at www.sec.gov; (b) Silicon Labs’ definitive proxy statement for its 2025 annual meeting of stockholders, which was filed with the SEC on March 12, 2025, under the headings “Proposal One: Election of Directors,” “Ownership of Securities,” “Executive Officers,” and “Compensation Discussion and Analysis,” and can be found at www.sec.gov; and (c) subsequently filed Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. To the extent holdings of Silicon Labs’ securities by its directors or executive officers have changed since the amounts set forth in Silicon Labs’ proxy statement for its 2025 annual meeting of stockholders, such changes have been or will be reflected on Forms 3, 4 and 5, filed with the SEC (which can be found at www.sec.gov). Copies of the documents filed with the SEC by Silicon Labs will be available free of charge through the website maintained by the SEC and at Silicon Labs’ website at https://investor.silabs.com/.

Information regarding Texas Instruments’ directors and executive officers is available in (a) Texas Instruments’ Annual Report on Form 10-K for the fiscal year ended December 31, 2024, including under the headings “ITEM 10. Directors, executive officers and corporate governance,” “ITEM 11. Executive compensation,” “ITEM 12. Security ownership of certain beneficial owners and management and related stockholder matters” and “ITEM 13. Certain relationships and related transactions, and director independence,” which was filed with the SEC on February 14, 2025, and can be found at www.sec.gov; (b) Texas Instruments’ definitive proxy statement for its 2025 annual meeting of stockholders, which was filed with the SEC on March 5, 2025, under the headings “Election of directors,” “Executive compensation,” and “Security ownership of directors and management,” and can be found at www.sec.gov; and (c) subsequently filed Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. To the extent holdings of Texas Instruments’ securities by its directors or executive officers have changed since the amounts set forth in Texas

Instruments’ proxy statement for its 2025 annual meeting of stockholders, such changes have been or will be reflected on Forms 3, 4 and 5, filed with the SEC (which can be found at www.sec.gov). Copies of the documents filed with the SEC by Texas Instruments will be available free of charge through the website maintained by the SEC at www.sec.gov and at Texas Instruments’ website at https://investor.ti.com/.

Other information regarding the participants in the solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be set forth in Silicon Labs’ definitive proxy statement and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Investors and stockholders should read the proxy statement carefully when it becomes available before making any voting or investment decisions. Copies of these documents may be obtained, free of charge, from the sources indicated above.

No Offer or Solicitation

This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of of Section 27A of the Securities Act of 1933, as amended, Rule 175 promulgated thereunder, Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. Such statements include statements concerning anticipated future events and expectations that are not historical facts. Any statements about Texas Instruments’ or Silicon Labs’ plans, objectives, expectations, strategies, beliefs, or future performance or events constitute forward-looking statements. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “continue,” “positions,” “plan,” “predict,” “project,” “forecast,” “guidance,” “goal,” “objective,” “prospects,” “possible” or “potential,” by future conditional verbs such as “assume,” “will,” “would,” “should,” “could” or “may,” or by variations of such words or by similar expressions or the negative thereof. Such forward-looking statements

include but are not limited to statements about the benefits of the proposed transaction, including future financial and operating results, Texas Instruments’ or Silicon Labs’ plans, objectives, expectations and intentions, the expected timing of completion of the proposed transaction and other statements that are not historical facts. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including, without limitation: (a) risks related to the consummation of the proposed transaction, including the risks that (i) the proposed transaction may not be consummated within the anticipated time period, or at all, (ii) the parties may fail to obtain Silicon Labs stockholder approval of the merger agreement, (iii) the parties may fail to secure the termination or expiration of any waiting period applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, or obtain other required governmental and regulatory approvals, and (iv) other conditions to the consummation of the proposed transaction under the merger agreement may not be satisfied; (b) the effects that any termination of the merger agreement may have on Silicon Labs or Texas Instruments and their respective businesses, including the risk that Silicon Labs’ or Texas Instruments’ stock price may decline significantly if the proposed transaction is not completed; (c) the effects that the announcement or pendency of the proposed transaction may have on Silicon Labs or Texas Instruments and their respective businesses, including the risks that as a result (i) Silicon Labs’ or Texas Instruments’ business, operating results or stock price may suffer, (ii) Silicon Labs’ or Texas Instruments’ current plans and operations may be disrupted, (iii) Silicon Labs’ or Texas Instruments’ ability to retain or recruit key employees may be adversely affected, (iv) Silicon Labs’ or Texas Instruments’ business relationships (including, customers and suppliers) may be adversely affected, or (v) Silicon Labs’ or Texas Instruments’ management’s or employees’ attention may be diverted from other important matters; (d) the effect of limitations that the merger agreement places on Silicon Labs’ ability to operate its business, return capital to stockholders or engage in alternative transactions; (e) the nature, cost and outcome of pending and future litigation and other legal proceedings, including any such proceedings related to the proposed transaction and instituted against Silicon Labs and others; (f) the risk that the proposed transaction and related transactions may involve unexpected costs, liabilities or delays; (g) other economic, business, competitive, legal, regulatory, and/or tax factors, including the impact of the current global memory chip shortage; and (h) other factors described in the reports of (i) Silicon Labs filed with the SEC, including but not limited to the risks described in Silicon Labs’ Annual Report on Form 10-K for its fiscal year ended December 28, 2024, which was filed with the SEC on February 4, 2025, and Silicon Labs’ Quarterly Reports on Form 10-Q, and that are otherwise described or updated from time to time in Silicon Labs’ other filings with the SEC and (ii) Texas Instruments filed with the SEC, including but

not limited to the risks described in Texas Instruments’ Annual Report on Form 10-K for its fiscal year ended December 31, 2024, which was filed with the SEC on February 14, 2025, and Texas Instruments’ Quarterly Reports on Form 10-Q, and that are otherwise described or updated from time to time in other filings with the SEC. All forward-looking statements attributable to Silicon Labs or Texas Instruments, or persons acting on Silicon Labs’ or Texas Instruments’ behalf, are expressly qualified in their entirety by this cautionary statement. Further, each of Silicon Labs and Texas Instruments disclaims any obligation to update the information in this communication or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

FAQ

What transaction between Texas Instruments and Silicon Labs (SLAB) is being proposed?

Texas Instruments and Silicon Labs describe a proposed merger that would combine their businesses. The companies plan to create a global leader in embedded wireless connectivity by pairing Silicon Labs’ mixed‑signal and wireless expertise with TI’s analog, embedded processing and internal manufacturing capabilities, subject to required approvals.

How will Silicon Labs stockholders be involved in the proposed Texas Instruments (SLAB) transaction?

Silicon Labs will seek stockholder approval of the proposed transaction at a special meeting. A detailed proxy statement will be filed with the SEC and sent to stockholders, who are urged to read it carefully because it will contain important information before they vote on the merger.

What regulatory approvals are required for the Texas Instruments–Silicon Labs (SLAB) merger?

The proposed merger requires expiration or termination of the Hart‑Scott‑Rodino waiting period and other governmental and regulatory approvals. The companies note that failure to obtain these approvals, or fulfill other merger‑agreement conditions, could prevent or delay completion of the transaction.

What risks are highlighted regarding the completion of the Silicon Labs (SLAB) transaction with Texas Instruments?

The communication warns the proposed transaction may not be consummated on the anticipated timetable, or at all. Key risks include lack of stockholder approval, regulatory obstacles, unsatisfied closing conditions, business disruption, adverse reactions from employees or customers, litigation, unexpected costs and broader economic or industry pressures.

How do Texas Instruments and Silicon Labs (SLAB) describe the strategic rationale for their proposed merger?

The companies present the merger as creating a global leader in embedded wireless connectivity solutions. They emphasize combining Silicon Labs’ wireless and mixed‑signal portfolio with TI’s analog and embedded processing, plus internally owned manufacturing, to expand customer reach, deepen end‑market expertise and provide enhanced value and support.

What guidance is given to Silicon Labs (SLAB) investors about SEC documents for the Texas Instruments deal?

Investors are urged to read the Silicon Labs proxy statement and related SEC filings when available. These documents, obtainable free via the SEC and company websites or investor relations, will include detailed information about the proposed transaction, participants in the solicitation and their interests.

Does the Texas Instruments–Silicon Labs (SLAB) communication constitute an offer to sell securities?

No, the communication explicitly states it is not an offer to sell or solicit securities or votes. Any securities offer would have to be made only by a prospectus meeting Section 10 of the Securities Act of 1933 and otherwise comply with applicable securities laws in relevant jurisdictions.