April 13, 2005 – Golden Gate Capital has acquired TDK Semiconductor Corp. for an undisclosed sum from TDK U.S.A. Corp., a subsidiary of Japan-based TDK Corp. and regional headquarters for TDK’s operations in the Americas, said the Asia Pulse Pte Ltd.
The acquired company will continue to be led by the current management team and its headquarters and operations will remain based in Irvine, CA. The acquired company will continue to be called TDK Semiconductor Corp. for a short transition period until a new name has been established.
“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. Corp.