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