Tokyo based TDK Corporation to acquire InvenSense for $1.3bn. The deal was struck after TDK agreed to buy all outstanding shares of InvenSense for $13.00 per share.
TDK also produces different types sensors so InvenSense deal was a strategic buy to expand its portfolio and expertise moving forward.
The all-cash deal is still subject to approval by InvenSense shareholders and relevant regulatory authorities. The transaction is expected to complete in second quarter of 2017.
InvenSense is San Jose, California, US based MEMS (micro electrical mechanical systems) sensor provider. It was founded in 2003.
InvenSense is the provider of the Motion Tracking sensor system on chip (SoC) for consumer electronic devices such as smartphones, tablets, wearables, gaming devices, optical image stabilization, and remote controls for Smart TVs. InvenSense also provides Optical Image Stabilization for Smartphone cameras.
About TDK Corporation
TDK Corporation is electronics company based in Tokyo, Japan. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products.
TDK’s portfolio includes electronic components, modules and systems marketed under the product brands TDK and EPCOS, power supplies, magnetic application products as well as energy devices, flash memory application devices, and others.