So starts a story in the Oct 29 1975 edition of Electronics Weekly.
Signetics had been started in 1961 by a group of ex-Fairchild Semiconductor engineers backed by $1 million from Lehmann Bros. Signetics introduced, in 1971, the legendary 555 timer chip designed by Hans Camenzind. For 30 years the 555 was the world's best-selling IC. By 1970, Signetics was No.4 in the world rankings and, in 1975, the year of the EW story, Signetics was bought by Philips.
The story continues: 'By deciding to keep the name Signetics, Philips will retain the prestige value of the Signetics organisation as one of the leaders in high-level technology.'
'Announcing the Philips decision, Jack Akerman, managing director for Mullard, said that, with the Signetics acquisition, Philips was now number two in the league table of semiconductor manufacturers in the world.'
Happy Days indeed!