{
  "docId": "019dd923-622b-71dc-a6d9-a5e0438c9deb",
  "docSlug": "15bf909b6013",
  "documentTitle": "Tessera Technologies Inc. (TSRA)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-04-30 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 37,
  "pageCount": 80,
  "prevPage": 36,
  "nextPage": 38,
  "slideType": "problem_statement",
  "function": "diagnose_problem",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "bullet_list"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6d9-a5e0438c9deb/37",
  "deckHref": "/decks/019dd923-622b-71dc-a6d9-a5e0438c9deb",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6d9-a5e0438c9deb.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6d9-a5e0438c9deb#slide-37",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Time is of the essence to re-invigorate Tessera’s licensing activities to drive profitable growth.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-ee36-760b-92b2-294640656a1e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.85,
        "x": 0.08,
        "y": 0.3
      },
      "kind": "list",
      "text": "Since 2007 Tessera has generated $1.2 billion in license and royalty revenues, which we estimate represents less than half of the total addressable licensing opportunity for its technologies over that time frame.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7571f19f-39b1-4f49-9561-de6a6cba26b5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.85,
        "x": 0.08,
        "y": 0.43
      },
      "kind": "list",
      "text": "There have been many missed opportunities and issues, including: Licensing missteps. Product focus in Digital Optics. Declining IP revenues. Investing heavily in R&D and SG&A in IP business with an unacceptable return on investment. Maintaining a bloated cost structure and excessive headcount throughout entire organization.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "925e7a2e-b689-44a1-a8a0-13245060b660",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.08,
        "y": 0.23
      },
      "kind": "list",
      "text": "Tessera has a long track record of not managing its patent assets effectively.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f2e8e236-bdd6-4ad8-b118-64420cc28ac3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.08,
        "y": 0.7
      },
      "kind": "paragraph",
      "text": "Time is of the essence to re-invigorate Tessera's licensing activities to drive profitable growth.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9d6b1d6b-160d-4707-a567-44072bacbf03",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.45,
        "x": 0.08,
        "y": 0.12
      },
      "kind": "title",
      "text": "Issues with Tessera's Current Strategy",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7d93e8c4-4fd2-423a-a6b1-d09ccdbdfdde",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 53,
      "from": 22,
      "beatId": "cb988b4b-6f3b-4d25-a59f-b2595f2f4664",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Propose Solution",
      "beatSlug": null,
      "evidence": "The document proposes a solution on pages 22-53.",
      "position": 2,
      "confidence": 0.9,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}