SMIC Signs License Agreement For Invensas' DBI(R) Technology

SHANGHAI and SAN JOSE, Calif., March 15, 2017 /PRNewswire/ -- Semiconductor Manufacturing International Corporation (NYSE: SMI; SEHK: 981) ("SMIC"), one of the leading semiconductor foundries in the world and the largest and most advanced foundry in mainland China, has executed a technology transfer and license agreement for Invensas' Direct Bond Interconnect (DBI^®) technology. Through this agreement, SMIC will be able to offer this bonding technology for use by image sensor manufacturing customers. Invensas is a wholly owned subsidiary of Xperi Corporation (Nasdaq: XPER) ("Xperi").

"As one of the leading foundries, SMIC delivers advanced semiconductor manufacturing processes to device makers around the world, and we are pleased to integrate DBI technology into our capabilities," said Dr. Tzu-Yin Chiu, Chief Executive Officer and Executive Director of SMIC. "This technology is a key enabler for the fabrication of 3D stacked image sensors, and by working closely with Invensas, we will accelerate the development and commercialization of a new generation of imaging products for our customers."

DBI technology is a low temperature hybrid wafer bonding solution that allows wafers to be bonded with exceptionally fine pitch 3D electrical interconnect without requiring bond pressure. DBI 3D interconnect can eliminate the need for thru silicon vias (TSVs) reducing die size and cost while providing a roadmap to pixel level interconnect for future generations of image sensors.

"We are thrilled to enter into this licensing agreement with SMIC, one of the largest and most respected semiconductor foundries in the world," said Craig Mitchell, president of Invensas. "SMIC recognizes the significant benefits of DBI technology for customers worldwide. We look forward to working closely with SMIC to integrate this enabling platform into their world-class design and manufacturing environment."

About SMIC

Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in mainland China. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometers. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm fab in Shanghai; a 300mm fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy SMIC has a majority-owned 200mm fab. SMIC also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong. For more information, please visit www.smics.com.

Safe Harbor Statements

(Under the Private Securities Litigation Reform Act of 1995)

This document contains, in addition to historical information, "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on SMIC's current assumptions, expectations and projections about future events. SMIC uses words like "believe," "anticipate," "intend," "estimate," "expect," "project" and similar expressions to identify forward looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessarily estimates reflecting the best judgment of SMIC's senior management and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competition, timely wafer acceptance by SMIC's customers, timely introduction of new technologies, SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, industry overcapacity, shortages in equipment, components and raw materials, availability of manufacturing capacity, financial stability in end markets and intensive intellectual property litigation in high tech industry.

In addition to the information contained in this document, you should also consider the information contained in our other filings with the SEC, including our annual report on Form 20-F filed with the SEC on April 25, 2016, especially in the "Risk Factors" section and such other documents that we may file with the SEC or SEHK from time to time, including on Form 6-K. Other unknown or unpredictable factors also could have material adverse effects on our future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this document may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated or, if no date is stated, as of the date of this document.

SMIC PR Contact
Terry Ding
+86-21-3861-0000 x16812
Terry_Ding@smics.com

About Xperi Corporation

Xperi Corporation (Nasdaq: XPER) and its wholly owned subsidiaries, DTS, FotoNation, Invensas and Tessera, are dedicated to creating innovative technology solutions that enable extraordinary experiences for people around the world. Xperi's solutions are licensed by hundreds of leading global partners and have shipped in billions of products in areas including premium audio, broadcast, computational imaging, computer vision, mobile computing and communications, memory, data storage, and 3D semiconductor interconnect and packaging. For more information, please visit www.xperi.com.

For more information on Invensas' DBI technology and other advanced semiconductor packaging and interconnect solutions from Invensas, please visit www.invensas.com.

Xperi, Invensas and their respective logos are trademarks or registered trademarks of Xperi Corporation in the United States and other countries. All other company, brand and product names may be trademarks or registered trademarks of their respective companies.

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 the DBI technology transfer and license agreement. Material factors that may cause results to differ from the statements made include the plans or operations relating to the businesses of Xperi; market or industry conditions; changes in patent laws, regulation or enforcement, or other factors that might affect Xperi'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 Xperi'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 our audio and imaging technologies; failure by the industry to use technologies covered by Xperi's patents; the expiration of Xperi's patents; Xperi'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 Xperi's businesses; failure of Xperi's products to achieve technological feasibility or profitability; failure to successfully commercialize Xperi's products; changes in demand for the products of Xperi's customers; limited opportunities to license technologies due to high concentration in applicable markets for such technologies; the impact of competing technologies on the demand for Xperi's technologies; failure to realize the anticipated benefits of Xperi's recent acquisition of DTS, Inc., including as a result of integrating the business of DTS; pricing trends, including Xperi's ability to achieve economies of scale; the expected amount and timing of cost savings and operating synergies; and other developments in the markets that Xperi operates, as well as management's response to any of the aforementioned factors. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release.

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere, including the Risk Factors included in Xperi's recent reports on Form 10-K and Form 10-Q and other documents of Xperi on file with the Securities and Exchange Commission (the "SEC"). Xperi's SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statements made or incorporated by reference herein are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by Xperi will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Xperi or its business or operations. Except to the extent required by applicable law, Xperi undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Xperi PR Agency Contact:
Zeno Group
Dan Sorensen, +1 650-801-0944
dan.sorensen@zenogroup.com

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SOURCE SMIC