TDK Semiconductor, represented in South Africa by CST Electronics, has announced that its management, and that of Golden Gate Capital, a private equity firm, have purchased the company from TDK-USA, a subsidiary of the Japan-based TDK Corporation. As part of the transformation, TDK Semiconductor has changed its name to Teridian Semiconductor Corporation.
"By separating the semiconductor business from a large corporate parent company the employees feel strongly that we are in a better position to bring more value to our customers as a standalone entity, with the backing of a multibillion dollar private equity firm," said Gerald Fitch, president and CEO, in a statement.
"The new Teridian Semiconductor has no plans to change its product development strategy, or eliminate any products from its catalogue of product offerings, he added. "In addition, this change will have no impact on ordering numbers, sales support, manufacturing locations, or contact information. This is a name change only."
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