EXHIBIT 99.1
Company Contact:
Michael Anthofer
EVP and CFO
408-321-6711
Moriah Shilton
Investor Relations
408-321-6713
Tessera Extends Agreement with Motorola
SAN JOSE, Calif. - April 16, 2009 - Tessera Technologies, Inc. (Nasdaq: TSRA) today announced that Motorola, Inc. has extended its option agreement with Tessera that enables Motorola to enter into a pre-negotiated license agreement with Tessera and settle all outstanding litigation between the companies. Motorola extended the option until 14 calendar days after the Final Determination in Tessera's ongoing U.S. International Trade Commission (ITC) Investigation 337-TA-605 (Wireless ITC action). Other detailed terms of the agreements, including option fees, license fees and license royalties, are confidential.
Motorola is one of the respondents in the Wireless ITC action. The ITC is currently scheduled to issue a Final Determination in the Wireless ITC action by May 20, 2009.
About Tessera
Tessera develops and delivers technologies for wireless, consumer and computing products. The company's packaging and interconnect solutions enable smaller, higher-functionality electronic devices. 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.
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 any agreements between Tessera and Motorola, procedural schedules, and the actions of the ITC. 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 Dec. 31, 2008, include more information about factors that could affect the company's financial results.
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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.
