Non-iterative network component analysis (NINCA), proposed by Jacklin at.al, employs convex optimization methods to estimate the transcription factor control strengths and transcription factor activities. While NINCA provides good estimation accuracy and higher consistency, the costly optimization routine used therein renders a high computational complexity. This correspondence presents a closed form solution to estimate the connectivity matrix which is tens of times faster, and provides similar accuracy and consistency, thus making the closed form NINCA (CFNINCA) algorithm useful for large data sets encountered in practice. The proposed solution is assessed for accuracy and consistency using synthetic and yeast cell cycle data sets by comparing with the existing state-of-the-art algorithms. The robustness of the algorithm to the possible inaccuracies in prior information is also analyzed and it is observed that CFNINCA and NINCA are much more robust to erroneous prior information as compared to FastNCA.