Japan’s TDK Scouting for Investment Opportunities in Israel
Earlier this month, the Japanese multinational electronics company invested in Israel-based quick-charging battery startup StoreDot
Tokyo-headquartered multinational electronics company TDK Corporation is eyeing Israeli startups for acquisitions and strategic cooperations, TDK’s Israeli subsidiary TDK-Lambda Ltd. announced on Sunday. The Japanese company has assigned its Israeli subsidiary to scout for investment and partnership opportunities in the country in the upcoming year, TDK-Lambda said.Earlier this month, TDK signed a strategic partnership with Israel-based quick-charging battery startup StoreDot Ltd., to develop fast-charging batteries for mobile devices. TDK has also joined StoreDot's latest $62 million funding round. According to TDK-Lambda, this was the company’s first investment in Israel in 27 years.
Founded in 1935, TDK develops and manufactures of electronic materials, electronic components, and recording and data-storage media, founded in 1935. The company reported $10.5 billion in revenues for the fiscal year 2017 and employs about 100,000 people globally.
StoreDot CEO and co-founder Doron Myersdorf. Photo: Jonathan Bloom
TDK has been active in Israel for over 30 years, since the 1982 acquisition of Israel-based electronic components manufacturer Nemic-Lambda Co. Ltd.
TDK-Lambda is based in Karmiel, a town in northern Israel, where it develops and manufactures power supply components for companies such as Microsoft, LG, and Siemens AG. The company employs a 250-person team in Israel.