Combined Company Adds Industry-Leading Audio Solutions to Its
Expanding Technology Portfolio
SAN JOSE, Calif.--(BUSINESS WIRE)--
Tessera Holding Corporation (Nasdaq: TSRA) (the "Company") today
announced it has completed the acquisition of DTS, Inc. ("DTS"). Tessera
Technologies, Inc. ("Tessera") and DTS are now combined under Tessera
Holding Corporation and the shares of the combined company will continue
to trade on the NASDAQ under Tessera's ticker symbol TSRA. The Company
plans to introduce a new corporate name, stock ticker, brand and logo
during the first quarter of 2017.
The Company's combined portfolio of products and technologies uniquely
positions it to deliver smart sight and sound solutions and
next-generation 3D semiconductor interconnect solutions for mobile
devices, consumer electronics, and automotive markets - while also
addressing the growing potential of emerging technologies such as IoT
and AR/VR. The Company's team of world-class engineers will focus on the
vision of creating core technologies that power intelligent, immersive
and personalized digital experiences.
"The combination of DTS and Tessera ushers in a new era for the
company," said Tom Lacey, CEO of Tessera Holding Corporation. "By
uniting DTS' industry-leading portfolio of premium audio technology
solutions with Tessera's best-in-class portfolio of imaging and
semiconductor packaging and interconnect technologies, we will be able
to execute on our vision of an integrated platform of smart enabled
technologies."
"DTS has always been a leading innovator in the audio space," said Jon
Kirchner, president of Tessera Holding Corporation. "We are proud to
unite with Tessera to innovate a new generation of smart sight and sound
solutions that will power the next wave of content delivery and
electronic devices. These solutions will help deliver ever more
immersive experiences and help transform how we interact with the
rapidly growing number of connected devices at home, in the car and on
the go."
For more information on Tessera Holding Corporation, its subsidiaries,
and its portfolio of technology solutions, please visit www.tesseraholdingcorporation.com.
About Tessera Holding Corporation
Tessera Holding Corporation is the parent company of Tessera, DTS,
FotoNation and Invensas. We are one of the world's leading product and
technology licensing companies. Our technologies and intellectual
property are deployed, in areas such as premium audio, computational
imaging, computer vision, mobile computing and communications, memory,
data storage, 3D semiconductor interconnect and packaging. We invent
smart sight and sound technologies that enhance and help to transform
human connected experience.
For more information, call +1 408-321-6000 or visit www.tesseraholdingcorporation.com.
Tessera, DTS, FotoNation, Invensas and their respective logos, are
trademarks or registered trademarks of affiliated companies of Tessera
Holding 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.
Forward-Looking Statements
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
potential benefits of the combined company. Material factors that may
cause results to differ from the statements made include the plans or
operations relating to the businesses of 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; the impact of competing technologies on the demand for the
Company's technologies; failure to realize the anticipated benefits of
the acquisition of DTS, including as a result of integrating the
businesses of Tessera and DTS; uncertainty as to the long-term value of
DTS; pricing trends, including the Company'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 Tessera
and DTS operate, 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 Tessera's and DTS' recent reports on Form 10-K and
Form 10-Q and other documents of the Company, Tessera and DTS on file
with the Securities and Exchange Commission (the "SEC"). The Company's,
Tessera's and DTS' respective 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 the Company will be realized or, even if substantially
realized, that they will have the expected consequences to, or effects
on, the Company or its business or operations. Except to the extent
required by applicable law, the Company undertakes no obligation to
update publicly or revise any forward-looking statement, whether as a
result of new information, future developments or otherwise.
TSRA-G
View source version on businesswire.com: http://www.businesswire.com/news/home/20161201005268/en/
PR Agency Contact:
Zeno Group
Dan Sorensen, +1 650-801-0944
dan.sorensen@zenogroup.com
or
Company
Contact:
Tessera Holding Corporation
Adolph Hunter, +1
408-321-6710
PR@tessera.com
or
Investor
Contact:
Tessera Holding Corporation
Geri Weinfeld, +1
818-436-1231
IR@tessera.com
Source: Tessera Holding Corporation
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