© mailthepic dreamstime.com Components | August 02, 2016
Epcos to acquire Tronics
Subject to certain regulatory approvals, TDK’s subsidiary Epcos will launch an all-cash public tender offer for all publicly-held shares of Tronics for a price of EUR 13.20 per share.
Comments Joachim Zichlarz, TDK Senior Vice President, Corporate Officer and CFO of Electronic Components Business Company and Epcos Chairman of the Management Board, CEO and CFO: “Tronics gives an immediate entry into the rapidly growing market for inertial sensors. The acquisition of Tronics will boost our innovativeness and market strength in one of the future’s most promising and crucial technological fields. Following the acquisition of the magnetic sensor manufacturer Micronas, which was announced in December 2015, the acquisition of Tronics represents a logical next step in TDK’s strategy to expand its activities in the sensors area. Moreover, TDK expects strong synergies with its own cutting-edge thin-film and assembly technologies.” With its experienced management team, Tronics will serve as the worldwide competence center for inertial sensors and provide MEMS solutions based on its own manufacturing facilities, in particular in Crolles. In this context, the Supervisory Board of Tronics has unanimously resolved to support the project and has given its preliminary recommendation to the public tender offer that will be filed by Epcos. Pascal Langlois, Chairman of the Management Board and CEO of Tronics comments: “This is a great recognition for Tronics’ expertise and success in inertial products and MEMS technologies. The company will benefit from TDK’s position as a leading manufacturer of electronic components with a global salesforce and powerful manufacturing base and with excellent relationships to key players in industrial, automotive and consumer electronics markets. TDK’s solid financial basis and extensive know-how in materials and production engineering will provide a very good basis for strong future growth of Tronics’ cutting-edge sensor technologies. It is a great step in the development of the company for employees, customers and shareholders.” Thales Avionics has informed Epcos that it wishes to remain a strategic shareholder of Tronics. Subject to the success of Epcos’ offer, Thales Avionics and Epcos shall enter into a shareholders’ agreement to organize their relationships as shareholders of Tronics.
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