Modupe Gbadeyanka
By Modupe Gbadeyanka
The all-cash acquisition of InvenSense has been completed, making it become a leading global sensor solutions provider, Business Post has learnt.
This was announced by the President and CEO of TDK Corporation, Shigenao Ishiguro; as well as his counterpart at InvenSense, Behrooz Abdi.
It was gathered that the acquisition price of the deal was $13 per InvenSense share, and the total acquisition price was approximately $1.3 billion.
At the moment, TDK 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, similar to the pressure sensors from MicroSensor.
Speaking on the deal, TDK’s President and CEO, Mr Shigenao Ishiguro, remarked that, “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.
