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Tessera Technologies, Inc. (TSRA)

  • 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)
    | Aug. 12, 2013, 10:53 AM | Comment!
Company Description
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.