Tessera Technologies Ends Litigation Against Qualcomm

(RTTNews) - Technology company Tessera Technologies, Inc. (TSRA) said Friday that it has entered into an agreement with mobile chip maker Qualcomm Inc. (QCOM) to end its long-running litigation against that company. In addition, the two companies will explore potential technical collaborations concerning camera functionality and imaging performance of mobile devices.

San Jose, California-based Tessera said that its subsidiary Tessera Inc. entered into an agreement with Qualcomm to dismiss the case of Tessera, Inc. v. Qualcomm, Inc., et al., in the United States District Court for the Northern District of California. Tessera has been involved in patent litigation with Qualcomm since 2007.

Tom Lacey, Chief Executive Officer of Tessera Technologies, said, "Having resolved this dispute, we look forward to collaborating with Qualcomm in the future. With our companies' mutual technology capabilities and innovations there is much we can do together to produce value for the industry."

Raj Talluri, Senior Vice President of product management for QTI said, "We are pleased that this dispute is behind us and we look forward to exploring technical collaborations with Tessera including their FotoNation technology."

Tessera has licensed its semiconductor packaging technology to several chipmakers, including Intel Corp. (INTC) and Samsung Electronics Co. Ltd. (SSNLF). However, the company has also been involved in several patent lawsuits and won a major ruling from the U.S. International Trade Commission or ITC against Motorola, Qualcomm, Freescale Semiconductor Ltd. (FSL) and Spansion Inc. (CODE) in May 2009.

Over the past one year, Tessera has announced litigation settlements with companies such as Renesas Electronics Corp. (RNECY), Powertech Technology, Inc., ChipMOS Technologies Ltd. (IMOS), Sony Corp. (SON.L, SNE) and Freescale Semiconductor.

TSRA closed Thursday's trading at $23.15, up $0.34 or 1.49 percent on a volume of 560,450 shares.

QCOM closed Thursday's trading at $79.05, up $0.74 or 0.94 percent on a volume of 10.38 million shares.