Japanese electronic parts maker TDK agreed to buy InvenSense, a U.S. chip maker that produces motion sensors for Apple and Samsung Electronics. Bobbi Rebell reports.
Japanese electronic parts maker TDK is shelling out $1.33 billion to buy InvenSense, a U.S. chip maker that produces motion sensors for Apple and Samsung. The deal comes at $13 per share, which is almost a twenty percent premium to the U.S. company's closing price on Tuesday. It will help TDK boost its sensor technology offerings. InvenSense designs parts which help smartphones calculate motion, enabling augmented reality games, such as Pokemon Go. This is the latest deal in the consolidating chip industry. Earlier this year, smartphone chip maker Qualcomm agreed to buy NXP Semiconductors for about $38 billion.