InvenSense (INVN ) to be acquired TDK Corporation for $13.00/share in cash

• InvenSense is an Apple supplier

  

 

TDK Corporation to acquire INVN for $13.00/share in cash :

• Co entered into a definitive agreement today wherein TDK agrees to acquire all of the outstanding InvenSense shares for cash at an acquisition price of $13.00 per InvenSense share, for a total acquisition price of $1.3 bln. 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.
• Transaction brings together more complete portfolio of sensor and software solutions spanning inertial, pressure, microphone and ultrasonic wave sensor products and technologies from InvenSense, with TDK's pressure, temperature, electric current and various other sensors.
• Transaction will be financed with cash-on-hand.
• In January 2016, TDK established a joint venture with Qualcomm (QCOM), called RF360 Holdings Singapore PTE, Ltd., and has also entered into agreements to expand technical cooperation in a wide range of fields including passive components, batteries, wireless power transfer, sensors.

InvenSense (INVN) reported 4Q earnings on Wed 27 Jan 2016 (a/h)

** charts before earnings **

 

** charts after earnings **

 

InvenSense reports EPS in-line, beats on revs :

• Reports Q3 (Dec) earnings of $0.18 per share, in-line with the Capital IQ Consensus of $0.18; revenues rose 3.5% year/year to $120 mln vs the $117.48 mln Capital IQ Consensus.

InvenSense (INVN) : 3.5 years years since IPO

weekly chart

InvenSense (INVN) started trading on the NYSE

IPOs this week (8 Aug 2011) : 12 companies scheduled

Update : 8/12/11: Only two of 12 IPOs scheduled this week have priced: SandRidge Permian Trust (PER) and Carbonite(CARB)

10 IPOs are delayed due to market sell-off and volatility:

• Cathay Industrial Biotech Ltd.
• Enduro Royalty Trust
• HomeStreet Inc.
• InvenSense Inc.
• Loyalty Alliance Enterprise Corp.
• Tim we. SGPS S.A.
• WageWorks Inc.
• WhiteGlove Health Inc.
• Midland States Bancorp
• Trustwave

Wed 8/10/11 market stats:

Dow Jones  10,719.94  -519.83  (-4.62%)

S&P 500    1,120.76   -51.77   (-4.42%)

Nasdaq     2,381.05   -101.47  (-4.09%)

Update : 8/11/11:   Carbonite said in a regulatory filing that it now expects shares to be priced at between $10 and $11.  Last month, the company said it hoped to raise as much as $106 million in an IPO by selling shares in the company at $15 to $17 a share

The following were scheduled the week of 8 Aug 2011

1. InvenSense, which makes motion processing chips for companies such as Nintendo, plans to offer 10.5 million shares at $8.50 to $10.50 per share for a $99.75 million offering
2. Carbonite: The online backup company plans to price 6.25 million shares at $15 to $17 each for a $100 million deal.
3. Trustwave Holdings, an online security compliance company, plans to price 6.25 million shares at $15 to $17 per share.
4. Cathay Industrial Biotech, a Shanghai-based industrial biotechnology producer, plans to price 6.9 million ADRs at $12 to $14 per share for a $89.7 million offering.
5. Enduro Royalty Trust plans to price13.2 million shares at $24 to $26 per share for a $330 million offering.
6. HomeStreet, plans to offer 7.8 million shares at $22 to $24 per share.
7. Loyalty Enterprise, a China-based provider of direct marketing and customer loyalty programs for mobile carriers such as China Unicom and China Telecom, plans to offer 5.03 million ADRs at $14 to $16 per share.
8. SandRidge Permian Trust, an oil exploration and production company, plans to offer 31.5 million shares at $19 to $21 per share for a $630 million offering.
9. Timwe, a Lisbon, Portugal-based mobile monetization company, plans to offer 11.25 million shares at $12 to $14 each.
10. Postponed from last week: Midland States Bancorp, an Effingham, IL-based bank holding company, plans to offer 5 million shares at $15 to $17 per share for a $80 million offering.
11. Postponed from last week: WageWorks, San Mateo, Calif.-based provider of employee health and commuter spending benefits programs, plans to offer 5.77 million shares at $8 to $9 per share, after cutting its expected from from $12 to $14 per share, for a $49 million offering at the middle of the range.
12. Postponed from last week: WhiteGlove Health, a low-cost primary and chronic care provider, plans to offer 2.5 million shares at $9 to $13 per share for a $27.5 million offering.

InvenSense prepares for a $100 million IPO

Qualcomm-backed InvenSense, which makes motion processing chips for companies such as Nintendo, plans to offer 10.5 million shares at $8.50 to $10.50 per share for a $99.75 million offering. 

The company posted revenue of $35.6 million in its most recent July quarter, up from $22.0 million in the year ago period. Net income attributable to common shareholders was $2.2 million, up from a net loss of $1.1 million a year ago.

• Website: http://invensense.com/
• HQ: Sunnyvale, Calif.

The Sunnyvale, Calif.-based company makes an integrated circuit, including motion sensors, gyroscopes and software on a chip. They’re used in console and portable video game devices, phones, tablets and TVs. One big risk factor: Nintendo represented 73% of InvenSense’s net revenue in fiscal 2011 and the technology has been incorporated into the Wii MotionPlus and Wii Remote Plus controller. Competitors include Panasonic, Sony, Analog Devices, Epson Toyocom Corp., Freescale Semiconductor, Kionix, MEMSIC, and Murata. InvenSense’s manufacturing is done by Taiwan Semiconductor Manufacturing Company. Shareholders with more than 5% stakes are Artiman Ventures (22.4%), Partech International (22.3%), Sierra Ventures (8.8%), and Qualcomm (6.9%).