Parallel multiplier is one of the most important building blocks in all the DSP processors, which needs faster computations. To reduce the total transistor count in a multiplier we have proposed two new approaches. The first approach is using a 26 transistor booth encoder and a 8-transistor/partial-product booth selector to generate partial products. The second approach proposes a new circuit for 4 : 2 compressors. The booth encoder and booth selector reported here are the smallest in transistor count, but comparable to the best delay with less power consumption. This paper describes a comparison of a compact 16 × 16 parallel multiplier using the new circuit components. This shows a transistor count advantage of 27% and 52% in partial product generation and partial product accumulation, respectively.