Tessera Technologies, Inc.NASDAQ
Tue, Sep. 20, 7:09 AM
- The all-cash deal is for $42.50 per share, 27% above DTSI's close last night.
- The purchase is expected to be immediately accretive to Tessera's (NASDAQ:TSRA) EPS, with the combined company slated to realize $15M in annual cost synergies within the first 12-18 months following the close.
- A conference call is set for 8:30 ET.
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)