Tessera Announces Strategic Reorganization Initiatives

Tessera Technologies, Inc. TSRA announced today two corporate initiatives to enhance the strategic positioning. Tessera announced today the formation of a new group charged with developing, acquiring and monetizing semiconductor technologies beyond packaging, to be led by Simon McElrea. The group, which will be responsible for an initial portfolio of approximately 280 patents and patent applications, will consist of approximately 40 current employees located in San Jose. Their focus will be on circuitry design, memory modules, 3-D architecture, and advanced interconnect technologies, among other areas. Tessera also announced that it is exploring a possible separation of its Imaging & Optics business. As part of this initiative, Tessera has retained GCA Savvian Advisors, LLC as its financial advisor to assist in the evaluation of multiple alternatives, including, among others, a spin-off transaction.