Immersion to Divest 3-D Business
"Immersion’s global strategy is now focused on the largest and most potent growth markets in our portfolio, our medical and touch lines of business, and as a result we will divest our 3-D line of business,” says Clent Richardson, Immersion’s president and CEO. “This decision was made following an exhaustive review of our strategy, key assets, core competencies, business operations, growth market opportunities and global aspirations. The divestiture of our 3-D line of business will allow us to properly align our priorities, resources and energy as well as strengthen our focus on capturing the substantial and well recognized growth opportunities in the areas of medical and touch in markets around the world.”
Immersion’s 3-D line of business consists of a variety of products in the areas of 3-D digitizing, 3-D measurement and inspection, and 3-D interaction, supported by a global reseller network. Products include MicroScribe digitizers, CyberGlove family of products that capture motion and manipulate objects in virtual reality, and a SoftMouse 3-D positioning device. The products are used in a variety of end-markets including computer modeling, part inspections, reverse engineering, virtual design and prototyping, motion capture, animation, mapping, GIS surveys and other applications.
“We expect to conclude this process in the first quarter of 2009. While we are not providing any financial projections relative to this matter, we anticipate that we will realize a reduction in operating expenses once we have transitioned out of this line of business,” says Stephen Ambler, Immersion’s chief financial officer. Parties interested in the purchase of the 3D line of business may contact Kevin Gorey at email@example.com.