TDK completes acquisition of InvenSense
TDK and InvenSense have announced that TDK has completed the all-cash acquisition of InvenSense. The acquisition price was $13.00 per InvenSense share, and the total acquisition price was approximately $1.3bn. TDK currently focuses on three market segments: automotive, industrial equipment & energy, and information & communications technology (ICT).
As part of its strategy for growth in these key areas, TDK has identified sensors and actuators, energy units and next-gen electronic components as three product areas for strategic growth aimed at unlocking new business opportunities in the sphere of the Internet of Things (IoT). Sensors are viewed as an important IoT-enabling technology, and sensor products and the technology portfolio of TDK will expand dramatically as a result of its acquisition of InvenSense. TDK will be able to create innovative next-gen products and provide a new platform with sensor fusion that combines various sensor technologies and software, so that it will be able to target more business opportunities as a strong player capable of providing a broad range of sensor solutions.
TDK's President and CEO, Shigenao Ishiguro, made the following statement: "We are delighted to welcome InvenSense into the TDK Group. By merging TDK's strengths in magnetic sensor technologies, the extensive portfolio of sensor products from TDK Group's EPCOS, TDK-Micronas and Tronics with InvenSense's leading sensor and software platforms, we will be able to bolster TDK's sensor business, one of our strategic growth areas. We aim to become a global leader in the sensor business, which will be a key component of the future growth of TDK."
As a result of the completed acquisition, InvenSense will become a wholly owned subsidiary of TDK, and Behrooz Abdi will continue to lead InvenSense as its CEO; additionally, serving as General Manager of MEMS Sensors Business Group of Sensor Systems Business Company within the newly formed Sensor Systems Business Company of TDK.