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SAN JOSE, Calif.–(BUSINESS WIRE)–Tessera Technologies, Inc. (Nasdaq:TSRA) (the “Company”) today appear its wholly endemic subsidiary, DigitalOptics Corporation™ (“DOC”) will focus its efforts on its amount MEMS camera bore business, which targets the ample and growing adaptable buzz market. DOC affairs to abate its workforce – not including those accompanying to accomplishment operations in Zhuhai, China – by up to 40%. These accomplishments could aftereffect in annualized operating amount accumulation of amid $15 actor and $18 actor by the additional division of 2013.
“Our ambition at DOC is to become a cogent supplier of abutting bearing camera modules for adaptable phones,” said Robert A. Young, admiral and arch controlling administrator of Tessera Technologies, Inc. “Camera bore appearance and functions accept accretion accent to consumers in the adaptable buzz market. The changes appear today will focus DOC on that bazaar and are an important allotment of active the business appear profitability.”
As allotment of this action DOC affairs to cease operations at its adeptness in Tel Aviv, Israel and to accompany a accessible auction of, or added cardinal alternatives for, its adeptness in Charlotte, North Carolina. These two accessories are not axial to the MEMS camera bore opportunity. Given abounding effect, the planned accomplishments would abate the non-Zhuhai workforce of 450 by about 180 employees.
DOC anticipates that the agents reductions and adeptness dispositions will be advance over the abutting two to three abode to ensure chain in the business as able-bodied as acquiescence with accordant acknowledged requirements. In affiliation with these actions, the Aggregation expects to acquire accuse of about $4 actor to$5 actor in the fourth division of 2012 and $1 actor to $2 actor in the aboriginal division of 2013, not including any tax accompanying accuse or abeyant accuse associated with the disposition of the Charlotte facility.
Safe Anchorage Statement
This columnist absolution contains advanced statements, which are fabricated pursuant to the safe anchorage accoutrement of the Private Securities Action Reform Act of 1995. Advanced statements absorb risks and uncertainties that could annual absolute after-effects to alter decidedly from those projected, decidedly with annual to the appulse of DOC’s abridgement in workforce, including the timing of such reductions, the accepted operational amount accumulation and the accuse the Aggregation will incur; DOC’s ambition to be a supplier of next-generation camera modules; the accent of camera bore appearance and functions in the adaptable buzz market; DOC abeyance operations at its adeptness in Tel Aviv; and a accessible auction of, or added cardinal alternatives for, DOC’s adeptness in Charlotte. Material factors that may annual after-effects to alter from the statements fabricated accommodate the affairs or operations apropos to the Company’s businesses; bazaar or industry conditions; changes in apparent laws, adjustment or enforcement, or added factors that adeptness affect the Company’s adeptness to assure or apprehend the amount of its bookish property; the abeyance of authorization agreements and the abeyance of accompanying adeptness income; the failure, disability or abnegation of licensees to pay royalties; initiation, delays, setbacks or losses apropos to the Company’s bookish acreage or bookish acreage litigations, or abolishment or limitation of key patents; the timing and results, which are not anticipated and may alter in any alone proceeding, of any ICC cardinal or award, including in the Amkor arbitration; fluctuations in operating after-effects due to the timing of new authorization agreements and royalties, or due to acknowledged costs; the accident of a abatement in appeal for semiconductor and camera bore products; abortion by the industry to use technologies covered by the Company’s patents; the abeyance of the Company’s patents; the Company’s adeptness to auspiciously complete and accommodate acquisitions of businesses, including the affiliation by DOC of its afresh acquired camera bore accomplishment adeptness in Zhuhai, China; the accident of accident of, or decreases in assembly orders from, barter of acquired businesses; banking and authoritative risks associated with the all-embracing attributes of the Company’s businesses; abortion of the Company’s articles to accomplish abstruse achievability or profitability; abortion to auspiciously commercialize the Company’s products; changes in appeal for the articles of the Company’s customers; bound opportunities to authorization technologies and advertise articles due to aerial absorption in the markets for semiconductors and accompanying articles and camera modules; the appulse of aggressive technologies on the appeal for the Company’s technologies and products; abortion by DOC to become a angular chip camera bore supplier; and the assurance on a bound cardinal of suppliers for the apparatus acclimated in the accomplish of DOC products. You are cautioned not to abode disproportionate assurance on the advanced statements, which allege alone as of the date of this release. The Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year concluded Dec. 31, 2011, and its Quarterly Report on Form 10-Q for the division concluded September 30, 2012, accommodate added advice about factors that could affect the Company’s banking results. The Aggregation assumes no obligation to amend advice independent in this columnist release. Although this absolution may abide accessible on the Company’s website or elsewhere, its connected availability does not announce that the Aggregation is reaffirming or acknowledging any of the advice independent herein.
About Tessera Technologies, Inc.
Tessera Technologies, Inc. is a captivation aggregation with operating subsidiaries in two segments: Bookish Acreage and DigitalOptics. The Bookish Acreage business, comprised of engineering, licensing, annual administering and action teams, generates acquirement from manufacturers that use its patented ideas. Our DigitalOptics business delivers addition in imaging and eyes with articles and capabilities that accredit broadcast functionality in added abate devices. Our miniaturized camera bore solutions accommodate cost-effective, high-quality camera features, including Micro Electro Mechanical Systems (“MEMS”)-based autofocus, continued abyss of acreage (“EDoF”), zoom, angel accessory and
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