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TDK to buy U.S. chip maker InvenSense for $1.3 billion

Staff Writer |
TDK said it had agreed to buy InvenSense, a U.S. chip maker that produces motion sensors for Apple and Samsung Electronics, for $1.33 billion.

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TDK said it will pay $13 per share to buy all of InvenSense, representing a 19.9 percent premium to the U.S. company's closing price on Tuesday.

Earlier this month, Reuters reported TDK was in talks to buy InvenSense.

The deal would allow TDK, already a major smartphone components supplier, to boost its sensor technology offerings.

InvenSense designs gyroscopes which help smartphones calculate motion, enabling augmented reality games such as Pokemon Go.

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