Becomes a Leading Global Sensor Solutions Provider
TOKYO & SAN JOSE, Calif.--(BUSINESS WIRE)--May 18, 2017--
TDK Corporation (President and CEO: Shigenao Ishiguro, “TDK”) and
InvenSense, Inc. (President and CEO: Behrooz Abdi, “InvenSense”)
announce that TDK has completed the all-cash acquisition of InvenSense.
The acquisition price was $13.00 USD per InvenSense share, and the total
acquisition price was approximately $1.3 billion USD.
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-generation
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-generation 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, Mr. Shigenao Ishiguro, made the following
“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 Mr. 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.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements that address a
variety of subjects including, for example, the expected benefits to be
derived from completing the transaction between TDK and InvenSense.
Statements that are not historical facts, including statements about
beliefs, plans and expectations, are forward-looking statements. Such
statements are based on current expectations and are subject to a number
of factors and uncertainties, are not historical facts and are subject
to risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. These
forward-looking statements include statements that reflect the current
expectations, estimates, beliefs, assumptions, and projections of TDK’s
senior management about future events with respect to TDK’s and
InvenSense’s business and TDK’s industry in general. Statements that
include words such as “anticipates,” “expects,” “intends,” “plans,”
“predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,”
“would,” “potential,” “continue,” “goals,” “targets” and variations of
these words (or negatives of these words) or similar expressions of a
future or forward-looking nature identify forward-looking statements.
Forward-looking statements represent management’s current expectations
and are inherently uncertain. TDK and InvenSense assume no obligation to
update the information in this communication, except as required by law.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
About TDK Corporation
TDK Corporation is a leading 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 passive
components, such as ceramic, aluminum electrolytic and film capacitors,
ferrites and inductors, high-frequency products, and piezo and
protection components, as well as sensors and sensor systems and power
supplies. These products are marketed under the product brands TDK,
EPCOS, Micronas, Tronics and TDK-Lambda. TDK's further main product
groups include magnetic application products, energy devices, and flash
memory application devices. TDK focuses on demanding markets in the
areas of information and communication technology and automotive,
industrial and consumer electronics. The company has a network of design
and manufacturing locations and sales offices in Asia, Europe, and in
North and South America. In fiscal 2017, TDK posted total sales of USD
10.5 billion and employed about 100,000 people worldwide.
InvenSense, Inc. (NYSE: INVN) provides MEMS sensor platforms.
InvenSense’s vision of Sensing Everything™ targets the consumer
electronics and industrial areas with integrated Motion and Sound
solutions. InvenSense’s solutions combine MEMS (micro electrical
mechanical systems) sensors, such as accelerometers, gyroscopes,
compasses, and microphones with proprietary algorithms and firmware that
intelligently process, synthesize, and calibrate the output of sensors,
maximizing performance and accuracy. InvenSense’s motion tracking, audio
and location platforms, and services can be found in Mobile, Wearables,
Smart Home, Industrial, Automotive, and IoT products. InvenSense is
headquartered in San Jose, California and has offices worldwide. For
more information, go to www.invensense.com
©2017 InvenSense, Inc. All rights reserved. InvenSense logos are
trademarks of InvenSense, Inc. Other company and product names may be
trademarks of the respective companies with which they are associated.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170518005823/en/
Source: InvenSense, Inc.
For TDK Media Inquiries, Contact:
TDK Investor Inquiries, Contact:
Jun Hatsumi, +81-3-6852-7102
InvenSense Media Inquiries, Contact:
InvenSense Investor Inquiries, Contact: