|By Business Wire||
|March 20, 2014 04:05 AM EDT||
Tessera Technologies, Inc. (NASDAQ:TSRA) (“Tessera”, the “Company” or “we”) announced that its Tessera, Inc. and Invensas Corporation (“Invensas”) subsidiaries entered into an agreement to settle their pending cases against Renesas Electronics Corporation (“Renesas”) and Renesas Electronics America, Inc. In conjunction with the settlement, Renesas entered into new multi-year patent license agreements with Tessera, Inc. and Invensas and transferred over 200 U.S. patents and their counterparts to a subsidiary of Tessera.
“We are pleased that Renesas has entered into these multiyear licenses with Tessera, Inc. and Invensas,” said Thomas Lacey, Chief Executive Officer, Tessera Technologies, Inc. “Renesas is a world leader in developing technology for the semiconductor industry in microcontroller integrated circuit products. We are delighted that we have reached a settlement with Renesas and that they are transferring their patent assets to one of our subsidiaries.”
The companies did not disclose the specific financial terms of the agreements.
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 settlement and license agreements with Renesas. Material factors that may cause results to differ from the statements made include the plans or operations relating to the Company's businesses; 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 camera module products; 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; the impact of competing technologies on the demand for the Company's technologies and products; and the reliance on a limited number of suppliers for the components used in the manufacture of DOC 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, 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.
About Tessera Technologies, Inc.
Tessera Technologies, Inc. is a holding company with operating subsidiaries that create, develop and license innovative semiconductor, interconnect and imaging technologies. Tessera and its subsidiaries generate revenue streams from manufacturers and other implementers that utilize our innovative technology. Tessera’s semiconductor packaging technologies have been licensed to more than 70 companies. More than 100 billion semiconductor chips have shipped with the company’s intellectual property. Tessera seeks to expand the use of its product and technology offerings in the tablet, laptop and smartphone markets.
For more information call 1.408.321.6000 or visit www.tessera.com.
Tessera, the Tessera logo, DOC, the DOC logo, and Invensas Corporation 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.