Tessera Technologies and Micron Technology Announce Execution of New Technology and Patent License Agreements
July 30 2014 - 4:05PM
Business Wire
Tessera Technologies, Inc. (NASDAQ: TSRA) ("Tessera" or the
“Company") and Micron Technology, Inc. (“Micron”) (NASDAQ: MU)
announced today the execution of new, multiyear technology and
patent license agreements. In addition to the new patent license
agreement, Tessera’s wholly-owned subsidiary Invensas Corporation
will license its Multi-Die Face-Down (xFDTM) semiconductor
packaging technology to Micron and cooperate with Micron on the
manufacturing of Micron products that incorporate xFD technology.
As part of the agreements, Tessera and Micron will also explore
other possible joint development efforts.
Tessera’s Chief Executive Officer Tom Lacey praised the
agreements. “We are delighted to reach new long-term agreements
with Micron that build on our existing relationship. We are
thrilled to be working closely with one of the most successful and
innovative semiconductor companies on the planet,” Lacey said. “We
have continued to develop innovative, next-generation technologies
that we seek to commercialize with world-class partners like
Micron. We look forward to working with Micron to commercialize
high performance multi-chip xFD DRAM and other products.”
“We are pleased to reach agreement with Tessera, including a
patent license and a technology agreement relating to Tessera’s xFD
packaging technology,” said Mark Durcan, Micron’s Chief Executive
Officer. “We look forward to discussing further joint development
opportunities with Tessera.”
The specific terms and conditions of the agreements are
confidential and have not been disclosed by the 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 new technology and patent license agreements
with Micron, the xFD manufacturing cooperation with Micron,
possible joint development efforts with Micron, the
commercialization of xFD products, and the Company’s development of
next-generation technologies. Material factors that may cause
results to differ from the statements made include the plans or
operations relating to the businesses of 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.
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, the FotoNation 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.
About Micron Technology, Inc.
Micron Technology, Inc., is a global leader in advanced
semiconductor systems. Micron's broad portfolio of high-performance
memory technologies—including DRAM, NAND and NOR Flash—is the basis
for solid state drives, modules, multichip packages and other
system solutions. Backed by more than 35 years of technology
leadership, Micron's memory solutions enable the world's most
innovative computing, consumer, enterprise storage, networking,
mobile, embedded and automotive applications. Micron's common stock
is traded on the NASDAQ under the MU symbol. To learn more about
Micron Technology, Inc. visit www.micron.com.
TSRA-I
Media ContactsTessera Technologies, Inc.Robert Andersen,
408-321-6779Executive Vice President and Chief Financial
OfficerorThe Piacente Group | Investor RelationsDon Markley,
212-481-2050Glenn Garmont, 212-481-2050Investor
Relationstessera@tpg-ir.comorMicron TechnologyDaniel Francisco,
208-368-5584dfrancisco@micron.com
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