Acquisitions · Sensors (MEMS)
TDK buys US motion sensor maker InvenSense for about $1.3 billion
- Buyer
- TDK (via TDK USA) (Tokyo)
- Target
- InvenSense, San Jose, California
- Value
- About $1.3B ($13.00 a share in cash; about ¥157.2B)
- Status
- Agreed on December 21, 2016; completed on May 18, 2017.
- Date
- 2016-12-21
TDK agreed to buy InvenSense, a maker of MEMS motion sensors based in San Jose, California, for $13.00 a share in cash, about $1.3 billion in total. TDK paid with cash on hand.
Why it matters
InvenSense's motion sensors and software add to TDK's magnetic, pressure, temperature and microphone sensors, part of its plan to make sensors a growth business for cars, industry and connected devices.
Deal terms
The $13.00 price was 19.9% above InvenSense's closing price on December 20, 2016, and 52.4% above its 60-day volume-weighted average. A new TDK subsidiary merged into InvenSense, which became wholly owned by TDK. The deal needed InvenSense shareholder approval and regulatory clearances.
InvenSense's products
InvenSense was known for six-axis and nine-axis motion sensors and also sold inertial, environmental, microphone and ultrasonic sensors with software. It used a fabless model. Its main customers were makers of smartphones, drones, wearables, game devices and cameras, and it was moving into automotive and industrial markets.
Sources
Kakehashi M&A News home
