SAN JOSE, Calif.--(BUSINESS WIRE)--
FotoNation Limited, a wholly owned subsidiary of Tessera Technologies,
Inc. (NASDAQ:TSRA) and the leading provider of computational imaging
solutions for smartphones and digital still cameras, today announced its
acquisition of Smart Sensors Limited ("SSL"), an award winning developer
of iris recognition biometric technology, a transaction that closed in
the fourth quarter of 2014.
Over the past 10 years, Smart Sensors has developed tools for iris
feature extraction, biometric key creation and fast-matching which
operate on many product and processor platforms. The use of biometric
authentication and identification systems is rapidly increasing, moving
onto mobile computing, notebooks, PCs, tablets and other communications
platforms. Iris authentication technology from SSL provides increased
device security and eliminates the need for passwords. The technology
also authenticates and verifies user presence for e-commerce, and
provides secure access control to valuable assets such as physical
locations and enterprise networks.
"The iris structure yields five times as many distinct, identifiable
features compared to fingerprints," said Petronel Bigioi, Senior Vice
President of Engineering and General Manager, FotoNation. "Smart
Sensors' team of PhD engineers has been focused on developing and
improving iris-based biometric systems for over a decade. Integrating
their capabilities with FotoNation's class-leading face detection,
tracking and recognition capacities will enable our customers to deliver
unique solutions tailored for mobile devices and other high volume
products, with exciting opportunities in the growing field of biometric
authentication and identification."
"FotoNation's complementary expertise and technology portfolio, along
with its strong relationships in the smartphone and camera markets, will
help us accelerate the adoption of SSL's technology in high-volume
applications," added Martin George, General Manager of SSL.
Safe Harbor Statement
This document 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
acquisition of SSL. Material factors that may cause results to differ
from the statements made include the plans or operations relating to the
businesses of Tessera Technologies, Inc. (the "Company"); market or
industry conditions; changes in patent laws, regulation or enforcement,
or other factors that might affect the Company'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 the Company'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 FotoNation technologies; failure by the industry to use
technologies covered by the Company's patents; the expiration of the
Company's patents; the Company'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 the
Company's businesses; failure of the Company's products to achieve
technological feasibility or profitability; failure to successfully
commercialize the Company's products; changes in demand for the products
of the Company's customers; limited opportunities to license
technologies due to high concentration in the markets for semiconductors
and related products and smartphone imaging; and the impact of competing
technologies on the demand for the Company's technologies. You are
cautioned not to place undue reliance on the forward-looking statements,
which speak only as of the date of this release. The Company's filings
with the Securities and Exchange Commission, including its Annual Report
on Form 10-K for the year ended Dec. 31, 2013, and its Quarterly Report
on Form 10-Q for the quarter ended Sep. 30, 2014, include more
information about factors that could affect the Company's financial
results. The Company assumes no obligation to update information
contained in this press release. Although this release may remain
available on the Company's website or elsewhere, its continued
availability does not indicate that the Company is reaffirming or
confirming any of the information contained herein.
About FotoNation
FotoNation is giving life to computational imaging by merging technology
with emotion. With technology in more than 60 percent of global tier-1
smartphones, FotoNation develops technologies that serve the
computational imaging space for handsets and cameras, as well as the
automotive, surveillance, security, and augmented reality markets. We
create, innovate and deliver the next generation of computational
imaging algorithms. We engineer new ways to reach the highest possible
performance while keeping system requirements to a minimum. We have a
long history of innovating and advancing the state of the art in image
processing. More than a decade ago, we were the first to integrate a
computational imaging solution in an embedded mobile device. Today
FotoNation is still the leader in computational photography and computer
vision. Nearly two billion digital cameras and smart devices are powered
by the imaging technologies designed by the sharp minds and passionate
hearts of FotoNation engineers. For more information visit www.fotonation.com.
About Smart Sensors Ltd.
Founded in 2003 in Bath, England, United Kingdom, Smart Sensors Ltd
offers software, know-how and licensing so integrators can deploy the
precision, power and convenience of iris recognition biometrics in
cost-effective solutions that authenticate each person's unique ID. Our
tools for iris feature extraction, biometric key creation and
fast-matching operate on many product and processor platforms. Working
with licensees, investors and selected technical and commercial
partners, Smart Sensors has delivered iris biometric technology into
products and systems sold internationally into applications as diverse
as secure hands-free access control, military force protection, refugee
management and automated border crossing.
About Tessera Technologies, Inc.
Tessera Technologies, Inc. and its subsidiaries generate revenue from
licensing to manufacturers and other implementers that use the Company's
technology in areas such as mobile computing and communications, memory
and data storage, and 3-D Integrated Circuit technologies. For more
information call 1.408.321.6000 or visit www.tessera.com.
Tessera, the Tessera logo, FotoNation, the FotoNation logo and FacePower
are trademarks or registered trademarks of affiliated companies of
Tessera Technologies, Inc. in the United States and other countries. All
other company, brand and product names may be trademarks or registered
trademarks of their respective companies.
TSRA-F
News Provided by Acquire Media
Tessera Technologies, Inc.
Robert Andersen, 408-321-6779
Executive
Vice President and Chief Financial Officer
or
The Piacente
Group | Investor Relations
Don Markley or Glenn Garmont,
212-481-2050
Tessera@tpg-ir.com
or
Media
Contact:
Impress Labs
Christian Zdebel, 484-788-2384
Christian@ImpressLabs.com
Source: Tessera Technologies, Inc.
News Provided by Acquire Media