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