Hi NJ,
Long time no talk. Just thought I'd post the news below and ask for your take on what this portends for TSRA and your current assessment of TSRA.
Steve
"Tessera Technologies Sells Micro-Optics Assets to FLIR
by Business Wire via The Motley Fool Aug 12th 2013 7:39AM
Updated Aug 12th 2013 7:44AM
Tessera Technologies Sells Micro-Optics Assets to FLIR
SAN JOSE, Calif.--(BUSINESS WIRE)-- Tessera Technologies, Inc. (NAS: TSRA) (the "Company" or "Tessera") announced today that FLIR Systems, Inc. ("FLIR") has acquired a significant portion of the assets of Tessera's Micro-Optics business based in Charlotte, North Carolina. Total consideration paid by FLIR was approximately $15 million.
"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," stated Thomas Lacey, interim CEO of Tessera Technologies, Inc. "I would like to thank the Micro-Optics employees for their contributions and efforts and believe this transaction is the right step forward for the future of that business."
Discontinued Operations
In the fourth quarter of 2012, the Company announced that its Micro-Optics business in Charlotte, North Carolina was no longer part of its long-term strategy, and that it was exploring strategic alternatives for this business. In the second quarter of 2013, the Company actively pursued a sale of this business and started classifying the business as discontinued operations."
