TDK Announces Acquisition of Amperex Technology

TDK Corp. (Japan) announced that it has acquired Amperex Technology Ltd. (ATL, Hong Kong), a supplier of lithium-polymer batteries, for $100 million. TDK expects the acquisition to strengthen its materials technology for lithium-polymer batteries, which are expected to grow in usage.

TDK's current product line includes ferrite materials, electronic components, wireless computer networking products, hard disk drive magnetic heads and advanced digital recording media. Established in 1999, Amperex has 3,000 employees and a manufacturing site in Dongguan, China.