Exhibit 99.1
| | |
Company Contact: | | Investor Relations Contact: |
Doug Norby | | Lippert/Heilshorn & Associates |
Senior Vice President, Chief Financial Officer | | Moriah Shilton/Kirsten Chapman |
Mike Forman | | 415-433-3777 |
Vice President, Finance and Administration | | Moriah@lhai-sf.com |
408-894-0700 | | |
Tessera Technologies Announces Signing of Memorandum of
Understanding to Settle Litigation With Samsung
SAN JOSE, Calif., November 16, 2004—Tessera Technologies, Inc. (Nasdaq:TSRA), a leading technology developer, licensor and product development services provider for semiconductor chip-scale and multi-chip packages (CSPs and MCPs), announced that it has signed a memorandum of understanding with Samsung Electronics. This memorandum of understanding contemplates that Tessera and Samsung will execute a definitive agreement providing for settlement of the ongoing lawsuit between the two companies.
About Tessera
Tessera develops semiconductor packaging technology that meets the demand for miniaturization and increased performance of electronic products. Tessera licenses its technology to its customers, enabling them to produce semiconductors that are smaller and faster, and incorporate more features. These semiconductors are utilized in a broad range of communications, computing and consumer electronic products.
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. Factors that might cause or contribute to such differences include, but are not limited to, fluctuations in Tessera’s operating results due to the timing of new license agreements and royalties, Tessera’s ability to protect its intellectual property and the risk of a decline in demand for semiconductor products. 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, 2003 and its Quarterly Report on Form 10-Q filed for the quarter
ended September 30, 2004 include more information about factors that could affect the company’s financial results.
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Note: Tessera and the Tessera logo are registered trademarks. All other company, brand and product names may be trademarks or registered trademarks of their respective companies.
