San Jose, CA--Tessera Technologies (Nasdaq: TSRA) has sold a significant part of its micro-optics business to FLIR Systems (Nasdaq: FLIR; Wilsonville, OR) for approximately $15 million. Referring to the micro-opticis business, based in Charlotte, NC, Tessera interim CEO Thomas Lacey, said, "This transaction is one of the substantive structural changes we announced we would make in the second half of 2013 as we continue to refine our focus on our differentiated MEMS-related technologies."
The company had said in Q4 2012 that its Micro-Optics business was no longer part of its long-term strategy, and that it was exploring strategic alternatives for this business. Tessera acquired the micro-optics business by purchasing Digital Optics for $59.5 million in July 2006. The technology was intended to become part of the development of low-cost, miniaturized imaging solutions for high-volume consumer optics applications, such as camera phones, next-generation DVD players and automotive applications. In April 2011, Tessera announced a possible Imaging & Optics group spin-off.
Related article: Tessera to buy Digital Optics
Tessera Technologies is a holding company with operating subsidiaries in two segments: Intellectual Property and DigitalOptics. The Intellectual Property segment, managed by Tessera Intellectual Property Corp., generates revenue from manufacturers and other implementers that use licensed technology. The DigitalOptics business delivers solutions in imaging systems for smartphones.
Conard Holton
Conard Holton has 25 years of science and technology editing and writing experience. He was formerly a staff member and consultant for government agencies such as the New York State Energy Research and Development Authority and the International Atomic Energy Agency, and engineering companies such as Bechtel. He joined Laser Focus World in 1997 as senior editor, becoming editor in chief of WDM Solutions, which he founded in 1999. In 2003 he joined Vision Systems Design as editor in chief, while continuing as contributing editor at Laser Focus World. Conard became editor in chief of Laser Focus World in August 2011, a role in which he served through August 2018. He then served as Editor at Large for Laser Focus World and Co-Chair of the Lasers & Photonics Marketplace Seminar from August 2018 through January 2022. He received his B.A. from the University of Pennsylvania, with additional studies at the Colorado School of Mines and Medill School of Journalism at Northwestern University.