SAN JOSE, Calif., Aug 07, 2009 (BUSINESS WIRE) -- Tessera Technologies, Inc. (Nasdaq: TSRA) today announced that
arbitration involving Amkor Technologies has begun. The arbitration
process will allow Tessera to address Amkor's breach of its license
agreement with Tessera. Tessera previously notified Amkor of Amkor's
noncompliance with the parties' agreement, and had recently stated that
legal proceedings involving Amkor were likely.
"We believe that Amkor once again is in violation of its contract,"
stated Henry R. Nothhaft, president and chief executive officer,
Tessera. "We have already begun proceedings to determine the extent of
their actions and will take the necessary steps to protect our
innovation and technology, our shareholders, and our licensees."
Tessera's intellectual property has been upheld repeatedly in court and
private arbitration proceedings. Last year, an arbitration panel
required Amkor to pay Tessera more than $60 million based on Amkor's
prior breaches of its license. Tessera's action against certain
companies in the International Trade Commission (ITC), Inv. No. 337-605,
was recently completed, subject to appeals, with findings that Tessera's
patents were valid and enforceable. The importation of certain
unlicensed products using Tessera's intellectual property is currently
prohibited by the U.S. government, and violations of the ITC's orders
may carry penalties of up to $100,000 per day.
Safe Harbor Statement
This press release 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
Tessera's litigation strategies, procedural schedules, and the actions
of government entities. Material factors that may cause results to
differ from the statements made include delays, setbacks or losses
relating to our intellectual property or intellectual property
litigations, or any invalidation or limitation of our key patents;
fluctuations in our operating results due to the timing of new license
agreements and royalties, or due to legal costs; changes in patent laws,
regulation or enforcement, or other factors that might affect our
ability to protect our intellectual property; the risk of a decline in
demand for semiconductor products; failure by the industry to adopt our
technologies; competing technologies; the future expiration of our
patents; the future expiration of our license agreements and the
cessation of related royalty income; the failure or refusal of licensees
to pay royalties; failure to achieve the growth prospects and synergies
expected from acquisition transactions; and delays and challenges
associated with integrating acquired companies with our existing
businesses. You are cautioned not to place undue reliance on the
forward-looking statements, which speak only as of the date of this
release. Tessera's filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K for the year ended December 31,
2008 and its Quarterly Report on Form 10-Q for the quarter ended June
30, 2009, include more information about factors that could affect the
company's financial results. Tessera assumes no obligation to update
information contained in this press release. Although this release may
remain available on Tessera's website or elsewhere, its continued
availability does not indicate that Tessera is reaffirming or confirming
any of the information contained herein.
About Tessera
Tessera Technologies, Inc., invests in, licenses and delivers innovative
miniaturization technologies for next-generation electronic devices. The
company's micro-electronics solutions enable smaller,
higher-functionality devices through chip-scale, 3D and wafer-level
packaging technology, as well as high-density substrate and silent air
cooling technology. Tessera's imaging and optics solutions provide
low-cost, high-quality camera functionality in electronic products and
include image sensor packaging, wafer-level optics and image enhancement
intellectual property. The company also offers customized micro-optic
lenses, from diffractive and refractive optical elements to integrated
micro-optical subassemblies. Tessera licenses its technologies, as well
as delivers products based on these technologies, to promote the
development of the supply chain infrastructure. The company is
headquartered in San Jose, California. For information call
1-408-321-6000 or go to www.tessera.com.
Tessera and the Tessera logo are trademarks or registered trademarks of
Tessera, Inc. or its affiliated companies in the United States and other
countries. All other company, brand and product names may be trademarks
or registered trademarks of their respective companies.
SOURCE: Tessera Technologies, Inc.
Tessera Technologies, Inc.
Michael Anthofer, EVP and CFO, 408-321-6711
Moriah Shilton, Investor Relations, 408-321-6713