HgCapital, a mid-market private equity manager, has bought the Netherlands-based digital cordless business of the National Semiconductor Corporation, a chip designer and manufacturer.

A source close to the deal said HgCapital had paid about $100m (€79m) for the unit, which will be called SiTel Semiconductor. Alex Shivananda, the director at HgCapital responsible for the deal, declined to comment on the price paid.