|By Business Wire||
|February 24, 2014 02:01 PM EST||
Tessera Technologies, Inc. (NASDAQ:TSRA) ("Tessera" or the "Company") today announced that Tessera’s subsidiary, Tessera, Inc., has entered into an agreement with Advanced Semiconductor Engineering, Inc. and ASE (U.S.) Inc. (collectively, “ASE”) to settle all claims at issue between ASE and Tessera, Inc. in the case styled Tessera, Inc: v. Advanced Micro Devices, Inc., et al. (Case No. 4:05-CV-04063 (United States District Court for the Northern District of California)).
Under the terms of the agreement ASE agrees to pay Tessera, Inc. a total of $30M U.S. Dollars, comprised of a one-time payment in the first quarter of 2015 and annual recurring payments commencing in the first quarter of 2015 through the first quarter of 2018.
“We are very pleased to have reached a settlement with ASE,” said Tom Lacey, CEO of Tessera. “Having resolved this dispute, we look forward to collaborating with ASE in the future. With our companies’ mutual technology capabilities and innovations there is much we can do together to produce value for the industry.”
“ASE is also pleased to have resolved our dispute with Tessera,” said Dr. Tien Wu, ASE’s Chief Operating Officer. “Both ASE and Tessera share the view that technology engagement is in the best interests of our customers and shareholders. ASE is a world leader in semiconductor packaging and collaboration between our companies presents interesting market opportunities.”
About Tessera Technologies, Inc.
Tessera Technologies, Inc. is a holding company with operating subsidiaries in two segments: Intellectual Property and DigitalOptics. Our Intellectual Property segment, managed by Tessera Intellectual Property Corp., generates revenue from manufacturers and other implementers that use our technology. Our DigitalOptics business delivers innovation in imaging systems for smartphones. For more information call 1.408.321.6000 or visit www.tessera.com.
Tessera, the Tessera logo, DOC and the DOC logo are trademarks or registered trademarks of affiliated companies of Tessera Technologies, Inc. in the United States and other countries. All other company, brand and product names may be trademarks or registered trademarks of their respective companies.
Safe Harbor Statement
This document contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected, particularly with respect to the impact of the agreement with ASE and the future collaboration between the Company and ASE. Material factors that may cause results to differ from the statements made include the plans or operations relating to the Company's businesses; any need to spend more cash and/or incur greater charges than anticipated in connection with the DOC restructuring, workforce reduction, facility closures and related activities; any need to undertake further restructuring activities; market or industry conditions; changes in patent laws, regulation or enforcement, or other factors that might affect the Company's ability to protect or realize the value of its intellectual property; the expiration of license agreements and the cessation of related royalty income; the failure, inability or refusal of licensees to pay royalties; initiation, delays, setbacks or losses relating to the Company's intellectual property or intellectual property litigations, or invalidation or limitation of key patents; the timing and results, which are not predictable and may vary in any individual proceeding, of any ICC ruling or award, including in the Amkor arbitration; fluctuations in operating results due to the timing of new license agreements and royalties, or due to legal costs; the risk of a decline in demand for semiconductor and products utilizing DOC technologies; failure by the industry to use technologies covered by the Company's patents; the expiration of the Company's patents; the Company's ability to successfully complete and integrate acquisitions of businesses; the risk of loss of, or decreases in production orders from, customers of acquired businesses; financial and regulatory risks associated with the international nature of the Company's businesses; failure of the Company's products to achieve technological feasibility or profitability; failure to successfully commercialize the Company's products; changes in demand for the products of the Company's customers; limited opportunities to license technologies and sell products due to high concentration in the markets for semiconductors and related products and camera modules; and the impact of competing technologies on the demand for the Company's technologies and products. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. The Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended Dec. 31, 2012, and its Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2013, include more information about factors that could affect the Company's financial results. The Company assumes no obligation to update information contained in this press release. Although this release may remain available on the Company's website or elsewhere, its continued availability does not indicate that the Company is reaffirming or confirming any of the information contained herein.
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