Eyesquad GmbH
SOLD TO TESSERA TECHNOLOGIES, FEB' 07. Eyesquad was founded in Munich in January '06 to develop high-performance, lo-cost optical front ends (OFEs) for micro-cameras. R&D operations were located in Tel Aviv. At the time of acquisition, the Company had met or exceeded key business plan objectives, including in proprietary lens design and image processing technologies, as well as in first pahse go-to-market efforts with its OFEs that were to provide extended depth of focus (EDOF) and non-mechanical zooming functionality, whilst maintaining similar form and cost factors to earlier generation alternatives.
Eyesquad's business model was fab-less and IP-driven. Plans called for gaining significant share of a market estimated to reach 1.7 billion units by 2010. At the time of acquisition, several leading mobile device makers were providing Eyesquad's technology advanced consideration.
In addition to Adara, Eyesquad received venture backing from Baytech Venture Capital in Munich. The founding team included CEO Dr. David Mendlovic, previously founder-CEO of optical components Civcom, Gal Shabtay and David Gasul. Dr Hans Wagner, founder of technophone and a well-known mobile industry figure for many years, served as the Company's Chairman.
San Jose-based, Acquiror Tessera Technologies Inc (www.tessera.com) is a leading provider miniaturization technologies for the electronics industry. The Company has been building significant operating presence in Israel for many years and its stock is quoted on Nasdaq under the symbol TSRA.