Flextronics Announces Agreement to Sell Camera Module Brand and Assets to DigitalOptics Corporation

March 2, 2012

-- Divests part of Vista Point Technologies, placing greater focus on power and advanced manufacturing
-- Names Chris Cook president of Power and Advanced Manufacturing Solutions

 

SINGAPORE, March 2, 2012 /PRNewswire/ -- Flextronics (NASDAQ: FLEX) today announced that it has entered into a definitive agreement with Tessera Technologies, Inc., and DigitalOptics Corporation (DOC), a wholly-owned subsidiary of Tessera Technologies, in which DOC will acquire certain assets of Flextronics' Vista Point Technologies camera module business, including intellectual property and China-based manufacturing operations. This transaction is subject to certain closing conditions.

Flextronics will retain a portion of Vista Point Technologies assets, but repurpose them and focus engineering talent toward strengthening the Company's ability to deliver manufacturing services.

"This move allows Flextronics to strengthen our position in power and manufacturing services for future growth," said , chief executive officer, Flextronics. "Our deep technical expertise and tremendous manufacturing scale differentiate Flextronics as the leading partner for customers seeking to ramp increasingly complex, highly-integrated products into volume production."

In a related move, Flextronics is investing in new talent and experienced leadership. Chris Cook joins the Company as president, Power and Advanced Manufacturing Solutions. He has more than 20 years of experience in creating, growing and shaping differentiated businesses in the semiconductor industry, most recently as a key member of Infineon Technologies' leadership team. In his new role, Cook will be responsible for accelerating the progress of Flextronics' Power business and further enabling the growth of the Company's manufacturing services.

"I am excited to join a great team with incredible potential," Cook said. "Our future is one where electronics innovation will continue to drive most industries and to fuel the ambitions of our society. This trend creates unprecedented demand for high-value power solutions and for technical manufacturing expertise. Flextronics has a unique and proven ability to meet this demand."

About Flextronics

Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer, industrial, infrastructure, medical, clean tech and mobile OEMs. Flextronics helps customers design, build, ship and service electronics products through a network of facilities in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and are vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. For more information, please visit http://www.flextronics.com/.

Renee Brotherton

Kevin Kessel or Mary Lee

Corporate Communications

Investor Relations

1(408) 576-7189

1(408) 576-7985/1(408) 421-1755

renee.brotherton@flextronics.com

kevin.kessel@flextronics.com

mary.lee@flextronics.com

SOURCE Flextronics

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