As part of this process DOC plans to cease operations at its facility in Tel Aviv, Israel and to pursue a possible sale of, or other strategic alternatives for, its facility in Charlotte, North Carolina. These two facilities are not central to the MEMS camera module opportunity. Given full effect, the planned actions would reduce the non-Zhuhai workforce of 450 by approximately 180 employees.
DOC anticipates that the staff reductions and facility dispositions will be spread over the next two to three quarters to ensure continuity in the business as well as compliance with relevant legal requirements.
Tel Aviv facility was developing EDoF, OptiML Zoom, OptiML Low-Light and other computational optics technologies. It was based on two acquired startups - Eyesquad and Dblur, combined with few people left from Shellcase. A number of key people of this group left Tessera a year ago, in Aug. 2011.
"Camera module features and functions have increasing importance to consumers in the mobile phone market. The changes announced today will focus DOC on that market and are an important part of driving the business towards profitability," said Robert A. Young, president and CEO of Tessera.
