In addition, we have the capability to deliver unique software driven imaging solutions when combining memscam with our Embedded Image Processing solutions now primarily present in digital cameras. We continue to productize our technology and ship sample quantities of camera modules to mobile phone makers for evaluation and qualification. "Our memscam module has demonstrated significantly faster autofocus and lower power consumption than the current voice coil motor autofocus technology. Thode, who was named president of DOC in February 2013. "These actions will result in a less capital-intensive approach for our DOC business, which will enable us to continue to innovate and develop the product and manufacturing capabilities that are critical to our success while maximizing the leverage of our partners and imaging ecosystem," said John S. Our goal is to accelerate the success of DOC while reducing costs, which we expect to improve the overall financial performance of the Company." Given the emerging acceptance of the memscam technology in the marketplace, we can now shift our strategy to focus on the areas of manufacturing where we have a defensible, differentiated advantage and better leverage our manufacturing partners. "DOC's recently launched memscam technology is a disruptive technology that will be an inflection point in - and the future of - imaging solutions in the smartphone, tablet and other mobile imaging segments. "Our Board is taking action to deliver value for our stockholders in both the near and long term," said Hill. The Committee and the Board of Directors will continue to monitor the DOC business closely to ensure that its strategy and business model are appropriate for the market opportunity. The Committee worked with management to evaluate the Company's overall business opportunity, strategy and operating model. Hill, former chairman and CEO of Novellus Systems. The refocused DOC strategy and restructuring resulted from a business strategy review directed by a committee of independent directors (the "Committee"), led by Richard S. DOC will continue to productize the memscam technology throughout the rest of the year, and expects to ship small production volumes of its technology in 2013. DOC will instead focus its strategy on the differentiated MEMS-related technologies, where it has proprietary assembly technology and expertise, and will partner with third-party manufacturers to produce other components of the full camera module. The Company has determined that it is no longer necessary for DOC to be a vertically integrated camera module supplier. The Company expects to reduce operating expenses in DigitalOptics Corporation ("DOC") and Corporate Overhead by approximately $78 million, or 45%, on an annualized basis exiting 2013, as compared to 2012. ( NAS: TSRA) (the "Company") today announced that it is refocusing its DigitalOptics Corporation ("DOC") business strategy to achieve the full potential of its differentiated imaging technology while reducing costs. SAN JOSE, Calif.-( BUSINESS WIRE)- Tessera Technologies, Inc. Tessera Technologies Announces Refocused DigitalOptics Business Strategy and RestructuringÄOC Will Concentrate on its Differentiated Technology and Leverage Partner RelationshipsĬompany Operating Expenses in DOC and Corporate Overhead Are Expected to be Reduced by $78 Million or Approximately 45%, Excluding Charges
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