FOUNTAIN INN, SC – AVX and Kyocera have entered into a definitive merger agreement, under which Kyocera will pay cash for all outstanding shares of common stock of AVX not owned by Kyocera.

Kyocera currently owns approximately 72% of the outstanding shares of AVX common stock. Following completion of the transaction, AVX will become a wholly owned subsidiary of Kyocera.

Kyocera expects the transaction to close in its fiscal fourth quarter ending in March.