On Behalf of the Sierra Ventures team, congratulations to InvenSense and Behrooz Abdi.
“TDK Corporation and InvenSense, Inc. (NYSE: INVN) entered into a definitive agreement today wherein TDK agrees to acquire all of the outstanding InvenSense shares for cash at an acquisition price of USD $13.00 per InvenSense share, for a total acquisition price of USD $1.3 billion. The transaction has been unanimously approved by the Boards of Directors of both companies. Completion of the transaction is expected in second quarter of the fiscal year ending March 31, 2018, and is subject to approvals by InvenSense shareholders and the relevant regulatory authorities. The acquisition will be completed through a merger of a newly created subsidiary of TDK with and into InvenSense, with InvenSense continuing following the merger as a wholly-owned subsidiary of TDK.” – reposted from StreetInsider, December 21, 2016.
Read the full press release on StreetInsider.