|By Business Wire||
|June 17, 2014 07:04 AM EDT||
FotoNation Limited, a wholly owned subsidiary of Tessera Technologies, Inc. (NASDAQ: TSRA) and the leading provider of computational imaging solutions for digital still cameras and mobile phones, today announced that it will once again operate under its original FotoNation name. With technology in more than 60 percent of global tier-1 smartphones, FotoNation will continue to develop technologies that serve the imaging industry. In addition to a re-energized look and feel, the company will bring the same level of innovation from its camera and smartphone business to the growing automotive, security, surveillance, and augmented reality markets. FotoNation will operate as a distinct identity of parent company Tessera Technologies, Inc., a leader in the innovation and licensing of intellectual property and technology in areas such as mobile computing and communications, memory and data storage, and 3-D Integrated Circuits.
“As the established leader in digital imaging technologies across a broad range of markets, we felt it was time to again emphasize FotoNation as a distinct brand, one that not only reflects our values, but is well known to the customers we’ve served over the past decade,” said Sumat Mehra, VP Marketing and Business Development at FotoNation. “Our technologies have always been driven by the passion of photographers, whether they are shooting on high-end DSLRs or smartphones. We provide imaging solutions that reinforce the users’ sense of wonder while interacting with the world through the lenses of their digital devices.”
With focus on embedded systems and smartphone imaging, FotoNation has proven over the years that it has a unique market approach and the capability to develop breakthroughs in some of the most important image processing-related fields. While these developments continue to evolve into the field of computational imaging for handsets and cameras, FotoNation is now taking these advances into the growing automotive, surveillance, security, and augmented reality markets.
“All manner of machines, as well as the cameras inside them, are getting smarter. As their computational power increases, the opportunity for advanced imaging technologies also increases,” said Petronel Bigioi, VP of Engineering at FotoNation. “We are enabling cars to tell the difference between sleepy and wakeful drivers, security cameras to know who is accessing a secure environment, smartphones to perform biometric authentication, and a wealth of new applications in the growing wearable-computing space.”
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 updated FotoNation brand; the development, characteristics, benefits, features and breakthrough qualities of FotoNation technologies; FotoNation growth plans; the growth of new markets; and the adoption and penetration of FotoNation technologies in new markets. Material factors that may cause results to differ from the statements made include the plans or operations relating to the businesses of Tessera Technologies, Inc. (the “Company”); 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; 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 semiconductors and products utilizing FotoNation 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 due to high concentration in the markets for semiconductors and related products and smartphone imaging; and the impact of competing technologies on the demand for the Company's technologies. 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, 2013, and its Quarterly Report on Form 10-Q for the quarter ended Mar. 31, 2014, 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.
FotoNation is giving life to computational imaging by merging technology with emotion. We create, innovate and deliver the next generation of computational imaging algorithms. We engineer new ways to reach the highest possible performance while keeping system requirements to a minimum. We have a long history of innovating and advancing the state of the art in image processing. More than a decade ago, we were the first to integrate a computational imaging solution in an embedded mobile device. Today we’re still the unchallenged leader in computational photography and computer vision. Nearly 2 billion digital cameras and smart devices are powered by the imaging technologies designed by the sharp minds and passionate hearts of FotoNation engineers. For more information visit www.fotonation.com.
About Tessera Technologies, Inc.
Tessera Technologies, Inc. and its subsidiaries generate revenue from licensing to manufacturers and other implementers that use the Company's technology in areas such as mobile computing and communications, memory and data storage, and 3-D Integrated Circuit technologies. For more information call 1.408.321.6000 or visit www.tessera.com.
Tessera, the Tessera logo, FotoNation and the FotoNation 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.
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