Golden Gate Capital and TDK announced that Golden Gate Capital has acquired TDK Semiconductor Corporation for an undisclosed sum.
The acquired company will continue to be led by the current management team and its headquarters and operations will remain based in Irvine, California. The acquired company will continue to be called TDK Semiconductor Corporation for a short transition period until a new name has been established. The company is a leader in the design and manufacture of advanced analog and mixed-signal integrated circuit products for consumer, communications, and industrial applications for a large number of global leading customers.
"We are excited to partner with management in acquiring TDK Semiconductor Corporation," stated David Dominik, Managing Director of Golden Gate Capital. "We are impressed with the management team, outstanding products and opportunity to build a world class semiconductor corporation."
"The sale of TDK Semiconductor Corporation will allow us to focus more on the core businesses of TDK and better ensure that the long term objectives of the company are achieved," said Francis J. Sweeney, Jr., President of TDK U.S.A. Corporation.