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Flextronics to sell camera module biz to Tessera

Posted: 05 Mar 2012     Print Version  Bookmark and Share

Keywords:acquisition  camera module 

Flextronics has agreed to sell certain assets of its Vista Point Technologies camera module business, including intellectual property and China-based manufacturing operations to DigitalOptics Corporation, a wholly-owned subsidiary of Tessera Technologies. The deal amount is Rs.113.86 crore ($23 million).

Flextronics will retain a portion of Vista Point Technologies assets, but "repurpose them and focus engineering talent towards strengthening the company's ability to deliver manufacturing services."

The transaction, which is expected to close in the third quarter, includes existing customer contracts and a lease to an approximately 135,000-square-foot facility. DigitalOptics anticipates that the business will have a capacity to manufacture approximately 5 crore camera module units per year.

"The acquisition of the Tier One qualified Zhuhai Camera Module Business provides DOC with a world-class, cost competitive facility that has the necessary production capabilities for DOC to assemble camera modules in volume, and a well-trained team of engineers and manufacturing employees," said Bob Roohparvar, president of DigitalOptics Corporation.

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