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  "documentTitle": "Tessera Technologies Inc. (TSRA)",
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  "presentationDate": "2013-04-30 00:00:00",
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      "text": "As confirmation of this market opportunity, our illustrative analysis shows that across all the relevant markets, there is a total potential licensing revenue opportunity ranging between $750 million - $1.0 billion, with a potential current annual run-rate of more than $75 million based on device shipments.",
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      "text": "As confirmation of this market opportunity, our illustrative analysis shows that across all the relevant markets, there is a total potential licensing revenue opportunity ranging between $750 million - $1.0 billion, with a potential current annual run-rate of more than $75 million based on device shipments.",
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      "text": "Some DOC patents have been licensed to the digital camera market, but have applicability to several large markets that remain untapped.",
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      "text": "In 2009, previous Tessera management said there was a $70 million annual licensing opportunity within Digital Optics by 2011. Tessera has never executed on this, but we believe the licensing opportunity still exists.",
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      "text": "DOC is a large untapped market opportunity that has been largely ignored due to efforts to sell product and the inherent conflict that creates. After peaking at $23.8 million in 2011, revenues declined by 40% in 2012 to $14.4 million as it appears legacy licensing agreements are expiring and not being renewed.",
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      "text": "market size: $185",
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      "text": "(1) Market size data based on Gartner Research. (2) Tessera 2009 Analyst Day Presentation",
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      "text": "DOC – Applicable Markets / Illustrative Licensing Opportunity",
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