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TSRA > SEC Filings for TSRA > Form 8-K on 14-Nov-2012All Recent SEC Filings

Show all filings for TESSERA TECHNOLOGIES INC

Form 8-K for TESSERA TECHNOLOGIES INC


14-Nov-2012

Costs Associated with Exit or Disposal Activities


Item 2.05. Costs Associated with Exit or Disposal Activities

On November 14, 2012, Tessera Technologies, Inc. (the "Company") announced that its wholly-owned subsidiary, DigitalOptics Corporation ("DOC"), will focus its efforts on its core MEMS camera module business. In connection with this effort, DOC will reduce its workforce, cease operations at its facility in Tel Aviv, Israel, and pursue a possible sale of, or other strategic alternative for, its facility in Charlotte, North Carolina.
In connection with these actions, the Company expects to incur total charges of approximately $4 million to $5 million in the fourth quarter of 2012 and $1 million to $2 million in the first quarter of 2013, not including any tax-related charges or potential charges associated with the disposition of the Charlotte facility.
A copy of the Company's press release announcing these actions is furnished as Exhibit 99.1 to this Form 8-K.

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