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Tessera technologies stock plus#
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Tessera expects the combined company to generate pro forma revenues of around $450 million in 2016, half of which will come from product licensing. The acquisition will make Tessera one of the leading product and technology licensing companies globally. TESSERA TEC INC Price | TESSERA TEC INC QuoteĮmergence of a Stronger Entity Following the Merger
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It will also try to maintain an optimum level of free cash flow available for funding quarterly dividends, pay debts, make investments and finance future acquisitions. The combined company will keep its balance sheet strong by maintaining pro forma cash and investments of around $100 million. Revenue synergies are expected to be achieved once the combined company reaches an optimum level of customer channel and technology utilization and expands addressable markets. It is also expected that the combined entity will realize $15 million in annualized cost synergies within 12 to 18 months of the closure of transaction. Tessera expects the deal to be immediately accretive to its earnings per share and free cash flow.
Tessera is planning to finance the acquisition with $600 million of debt from RBC Capital Markets and the rest with the available cash on hand. The combined entity will have a new name and stock symbol following the closure of the transaction.
It’s an all-cash deal per which DTS will receive $42.50 per share at a 28% premium to its 30-day volume weighted average price as of Sep 19, 2016. has decided to acquire leading audio solutions provider DTS Inc.
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