Aug. 12, 2013, 10:53 AM
- Tessera (TSRA +0.2%) announces it has sold a "significant portion" of the assets of its Micro-Optics business to Flir Systems (FLIR +1%) for $15M.
- The division is based in Charlotte, North Carolina, and provides lens components for smartphone camera modules.
- Tessera previously stated it was pursuing the sale of the division in order to " focus on our core MEMS autofocus product opportunity." The company announced in March it's restructuring its DigitalOptics (DOC) unit, which includes Micro-Optics, after determining "it is no longer necessary for DOC to be a vertically integrated camera module supplier."
- The Charlotte unit's revenue, combined with the revenue of a Chinese manufacturing business acquired in 2012 to expand Tessera's camera module ops, declined -14.3% Y/Y to $2.66M in Q2. Operating loss in Q2 was $5.12M. Net assets of the division were $12.43M as of June 30. (10Q)
Tessera Technologies Inc with its subsidiaries create, develop and license semiconductor, interconnect and imaging technologies. Its semiconductor packaging technologies have been licensed to more than 70 companies.
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