SAN JOSE, Calif., Jan 04, 2010 (BUSINESS WIRE) -- Tessera Technologies, Inc. (NASDAQ:TSRA) announced today that President
and CEO Henry R. Nothhaft was appointed Chairman of the Board effective
January 1, 2010. Nothhaft was formerly the Vice Chairman and is
succeeding Bruce McWilliams, who served as Chairman of the Board since
February 2002 and as a director of Tessera since June 1999. McWilliams
will continue to serve as a director of Tessera.
"Bruce has provided great leadership to Tessera for over 10 years, and
we are pleased that he will continue to serve on our Board," said
Nothhaft. "It is a privilege to succeed Bruce, and I am enthusiastic
about taking on the additional role of Chairman of the Board. We have a
strong management team at Tessera and an outstanding board of directors
who are committed to ensuring that Tessera continues to create value for
its customers, its employees and its shareholders."
"It has been an honor to serve as Chairman of the Board these past seven
years and to be a part of Tessera as both its Chairman and former CEO,"
said McWilliams. "I look forward to continuing to work with Hank, whose
strategic and operational expertise has positioned the company to take
advantage of the opportunities in semiconductor packaging, imaging and
optics, and silent air cooling."
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 Henry
R. Nothhaft's continued performance of the duties of Chairman of the
Board of Directors. 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
September 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.
TSRA-G
SOURCE: Tessera Technologies, Inc.
Tessera Technologies, Inc.
Michael Anthofer, 408-321-6711
EVP and CFO
or
Moriah Shilton, 408-321-6713
Investor Relations
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