TDK Corporation and MEMS maker InvenSense entered into a definitive agreement this week with TDK agreeing to acquire all of the outstanding InvenSense shares for cash for a total acquisition price of $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. According to TDK, this acquisition promotes further growth in sensor and actuator products, which is an important part of the company's strategic growth plan. The transaction brings together a more complete portfolio of sensor and software solutions spanning inertial, pressure, microphone, and ultrasonic sensor products from InvenSense, with TDK's existing pressure, temperature, electric current and various other sensors. 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.