SAN JOSE, Calif., Apr 30, 2009 (BUSINESS WIRE) -- Tessera Technologies, Inc. (Nasdaq: TSRA) today announced the signing of a definitive agreement for its subsidiaries to acquire certain assets of Israel-based Dblur Technologies Ltd., a developer of software lens technology for cell phone cameras and other imaging applications.
Under the terms of the agreement, Tessera will purchase certain of Dblur's assets including intellectual property and specified customer agreements. In addition, Tessera will hire certain former Dblur employees. The transaction is subject to various standard closing conditions, and is expected to close within the second quarter of 2009.
"Tessera continues to build on its commitment to the imaging and optics industry," said Henry R. "Hank" Nothhaft, president and chief executive officer, Tessera. "The assets we are acquiring from Dblur will help Tessera to further enable camera module developers in markets such as China to address the challenges associated with mass production of high-performance, low-cost camera modules for next-generation cell phones."
Tessera Technologies, Inc. delivers miniaturization technologies that transform electronic 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 the timing and completion of the Dblur asset acquisition, the hiring of any Dblur employees, and the development of solutions for the imaging and optics industry. 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, include more information about factors that could affect the company's financial results.
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.
Judy Erkanat, +1-408-321-6751
LEWIS PR for Tessera
Catherine Koo or Nicole Wasowski, +1-415-992-4400