Wholly owned subsidiary of Tessera Technologies, Inc. (TSRA), FotoNation Limited, recently announced the acquisition of U.K.-based Smart Sensors Limited (“SSL”). Notably, the acquisition was closed in the fourth quarter of 2014.
FotoNation provides face recognition and tracking technology for high-end digital cameras and smartphones.
On the other hand, SSL develops iris recognition systems and has designed biometric key creation tools that work across several platforms.
Petronel Bigioi, SVP and general manager of FotoNation, recently threw light on the expected synergies from the company’s latest alliance. While FotoNation’s leading face detection, tracking and recognition capacities will develop unique solutions for mobile devices and other such products, SSL's assets will offer the combined entity an added advantage with respect to biometric authentication and identification.
Face and iris scanning technologies are being increasingly used in a majority of applications in a variety of devices. Thus, both of these can be collectively used to offer advanced authentication for purposes like phone unlocking or access control.
Tessera continues to see growth in the FotoNation imaging group owing to a string of product additions. These positive developments and the company's premium imaging technology could finally generate the kind of growth management has been talking about.
Tessera had posted encouraging results with both the top and the bottom line exceeding the Zacks Consensus Estimate in the fourth quarter of 2014.
Also, Tessera currently sports a Zacks Rank #1 (Strong Buy).
Stocks That Warrant a Look
Investors can also consider other favorably-ranked stocks in the industry like PetMed Express, Inc. (PETS), EVINE Live Inc. (EVLV) and Autobytel Inc. (ABTL). While PetMed sports a Zacks Rank #1, EVINE Live and Autobytel carry a Zacks Rank #2 (Buy).
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