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Texas Instruments Incorporated (or TI) is a global semiconductor design and manufacturing company that develops analog ICs, embedded processors, ASICs, and other related technologies. Founded in 1930 by two researchers from the University of Texas at Austin—John Barker Clayton and Eugene McDermott—TI was originally known as Geophysical Service Inc., and its primary business was the sale of seismic equipment to oil companies located in the booming American Southwest. Over time, GSI grew into an electronics firm offering radio navigation and detection devices for military use, including proximity fuzes for bombs used during World War II. In 1951, it changed its name to Texas Instruments and began producing transistors out of a new facility in Dallas. Through successive decades Ti has continued to innovate with products such as calculators, digital watches, keyboards, microphones and IC chips. The company now operates globally across many industries serving customers ranging from consumer electronics manufacturers to automotive companies.