TDK Corporation (TDK) has announced that it has concluded a basic agreement (Memorandum of Understanding) with Alps Electric Co. Ltd (Alps) regarding an acquisition from Alps of its equipment and intellectual property rights such as patent properties and know-how concerning HDD (Hard Disc Drive) head business, and has commenced negotiations with Alps to conclude a definitive contract.
Through the acquisition of Alps' technology and know-how, the proposed definitive contract will enhance TDK's ability to compete by improving the efficiency of its operations and enabling TDK to offer enhanced technologies.
Furthermore, TDK will make timely report on the schedule and contents of this transaction along with the financial effect of acquisition as soon as the both parties reach certain milestones during the ongoing discussion.
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