National Semiconductor Corp. said today that a consortium including General Motors subsidiary Electronic Data Systems Corp. and Japanese computer-maker Hitachi Ltd. will buy its computer sales unit for $398 million.
National Semiconductor said it expects to complete the sale of its National Advanced Systems unit, which has annual revenues of $900 million, by late April. The company said it ended previously announced talks on a possible sale of the unit to Memorex Telex NV. It gave no reason.
The consortium also includes West Germany's Comparex Information Systems. Hitachi will hold an 80% stake in the joint U.S. operation and EDS will hold the remaining 20%.