0001193125-17-374232.txt : 20171220 0001193125-17-374232.hdr.sgml : 20171220 20171220091602 ACCESSION NUMBER: 0001193125-17-374232 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20171218 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities ITEM INFORMATION: Other Events FILED AS OF DATE: 20171220 DATE AS OF CHANGE: 20171220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMMERSION CORP CENTRAL INDEX KEY: 0001058811 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 943180138 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27969 FILM NUMBER: 171265756 BUSINESS ADDRESS: STREET 1: 50 RIO ROBLES CITY: SAN JOSE STATE: CA ZIP: 95134 BUSINESS PHONE: 408-467-1900 MAIL ADDRESS: STREET 1: 50 RIO ROBLES CITY: SAN JOSE STATE: CA ZIP: 95134 FORMER COMPANY: FORMER CONFORMED NAME: IMMERSION HUMAN INTERFACE CORP DATE OF NAME CHANGE: 19980602 8-K 1 d474834d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

December 18, 2017

Date of Report (Date of earliest event reported)

 

 

IMMERSION CORPORATION

(Exact name of Registrant as specified in its charter)

 

 

 

Delaware   000-27969   94-3180138

(State or other jurisdiction

of incorporation)

  

(Commission

file number)

  

(I.R.S. Employer

Identification No.)

50 Rio Robles, San Jose, CA   95134
(Address of principal executive offices)   (Zip Code)

(408) 467-1900

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

Item 2.05. Costs Associated With Exit or Disposal Activities.

On December 18, 2017, Immersion Corporation (“Immersion”) executed a series of restructuring actions designed to sharpen the company’s strategic focus and establish a more cost-efficient operating structure.

As part of these changes, Immersion plans to take the following steps:

 

  •   Significantly reduce its presence in China to focus primarily on Mobile OEM licensing;

 

  •   Focus development efforts to bolster its IP licensing model for the Gaming and VR/AR markets; and

 

  •   Cease its efforts in Mobile Advertising.

These steps will increase internal efficiencies through the consolidation of certain sites of operation and will result in the elimination of 56 positions or approximately 41% of the worldwide employee base.

Immersion anticipates annual savings from these actions to be approximately $10 million and estimates total costs related to these efforts to be in the range of $1.5 million to $2.0 million. The company expects that these activities will be completed during the first quarter of 2018 and it will provide additional details during its fiscal 2017 conference call.

 

Item 8.01. Other Events.

The information disclosed under Item 2.05 of this Form 8-K is incorporated by reference in this Item 8.01

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    IMMERSION CORPORATION
Date: December 20, 2017     By:  

/s/ Amie Peters

    Name:   Amie Peters
    Title:   General Counsel