The very talented and prolific FotoNation of Burlingame, CA â€“ inventor of many delightful things for digital cameras (red eye correction, smile detection, blink detection, face tracking, etc.) â€“ is being acquired by Tessera Technologies, Inc. of San Jose, California.
Tessera will pay $29 million in cash plus another $10 million if the going is good after one year to the privately-owned 80-person FotoNation. Tessera is a provider of miniaturization technologies for the electronics industry. Their clients include companies such as Intel, Samsung, Texas Instruments, Toshiba, Micron and Infineon.
â€œFotoNationâ€™s solutions are a perfect complement to Tesseraâ€™s image enhancement technologies and the combined strengths of our two companies will help drive the proliferation of digital still camera functionality in mobile camera devices, as well as open new channels such as digital still cameras for our product portfolio,â€ said Bruce McWilliams, chief executive officer, Tessera.