The 74HC245 is an 8-bit transceiver IC with 3-state output. Meaning it has two set of pins (A0-A7 and B0-B7), in which each set has 8 pins. Out of these two sets one set can be used as input and the other set can be used as output. Since the IC is a transceiver IC, Data can flow from input bus to output bus and also from output bus to input bus, by simply toggling the Direction pin (DIR) pin as required. It also has a decent output current of 35mA and hence can be used to drive nominal loads.
SN74S245