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Stock Market & Financial Investment News

News Breaks
July 7, 2014
16:56 EDTINVNInvenSense to acquire Movea, Trusted Positioning
InvenSense announced that it has signed a definitive agreement to acquire Movea, a privately-held company that is a leading provider of software for ultra-low power location, activity tracking and context sensing. Movea's products, technology and IP cover a broad range of signal processing and data fusion technology applied to consumer mobile, TV interaction and wearable sports & fitness applications. InvenSense has also signed a definitive agreement to acquire Trusted Positioning, a privately-held indoor/outdoor positioning software company with the vision to provide 'Positioning Everywhere'. TPI's location tracking technology improves accuracy both indoors and outside by augmenting GNSS and Wi- Fi based location infrastructure. In connection with the acquisition of both companies, InvenSense expects to pay approximately $81M, net of cash assumed, to acquire all of the outstanding shares of capital stock and other equity rights of Movea and Trusted Positioning. The purchase price will be paid with $6M of InvenSense common stock and the remainder in cash, except that portion attributable to unvested employee stock options will be paid in stock options exercisable for shares of InvenSense's common stock. A portion of the cash consideration payable to the stockholders will be placed into escrow pursuant to the terms of the acquisition agreement. The estimated financial impact of the acquisitions upon the future operating results of InvenSense, Inc., which is not expected to be significant, will be discussed during the next regularly scheduled quarterly investors analyst conference call currently planned for July 29. The boards of directors of InvenSense and the two companies have approved the mergers. The transactions are expected to close by the end of InvenSense's second quarter, September 30, and remains subject to the satisfaction of regulatory requirements and other customary closing conditions.
News For INVN From The Last 14 Days
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December 11, 2014
10:21 EDTINVNHigh option volume stocks
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10:16 EDTINVNInvenSense December calls active
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December 5, 2014
11:41 EDTINVNInvenSense management to meet with Roth Capital
Meetings to be held in Milwaukee/Chicago on December 9 hosted by Roth Capital.

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