Tessera to Acquire Siimpel
Tessera Technologies Inc. announced its entrance into a definitive agreement to acquire microelectromechanical systems (MEMS) based camera solutions manufacturer Siimpel Corp. of Arcadia, Calif.
The former company, who invests, licenses and delivers miniaturization technologies for next-generation electronic devices, will pay approximately $15 million in cash for the MEMS provider. The transaction is subject to standard closing conditions.
It does not anticipate a revenue contribution in the second quarter of 2010 from the acquisition. It does, however, expect to incur additional second quarter Non-GAAP operating expense of between $1.8 million and $1.9 million as a result of the purchase.
The acquisition will enable the company to expand its image enhancement portfolio by using the latter company’s MEMS-based auto focus solution to address camera modules with higher pixel resolutions.
For more information, visit:
www.tessera.com
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