Tessera Technologies Announces Board Changes and CEO Transition

  Tessera Technologies Announces Board Changes and CEO Transition

   New Independent Directors Bring Deep Operational and Financial Expertise

Business Wire

SAN JOSE, Calif. -- March 25, 2013

Tessera Technologies, Inc. (NASDAQ:TSRA) ("Tessera" or the "Company") today
announced changes to its Board of Directors (the "Board") and the commencement
of a search for a new chief executive officer. The reconstituted Board will
comprise experienced and independent directors with the skills and expertise
to guide the Company through the next phase of its strategic plan, both in the
Intellectual Property (IP) and DigitalOptics (DOC) businesses.

Richard S. Hill was appointed Chairman of the Board, effective immediately,
replacing Robert J. Boehlke, who will remain on the Board until the upcoming
annual meeting of stockholders on May 23, 2013. In addition, the Board will
immediately begin a search for a new chief executive officer to replace Robert
A. Young.

Also effective immediately, three new independent directors will join the
Board: John Chenault, John H. F. Miner and Christopher A. Seams.

The Company intends to nominate a slate of six independent directors at the
upcoming annual meeting of stockholders, including the three new directors and
existing directors Richard S. Hill, David C. Nagel and Timothy J. Stultz.

“We continue to strengthen the Board, and each of our directors – both current
and new – is fully committed to driving stockholder value at the Company,”
said Hill. “The three new directors we are nominating for the Board are all
accomplished business leaders, and we expect them to provide immediate and
substantial benefits to the Company.

“Bob Boehlke and Bob Young have both made significant contributions in their
years of service to the Company,” added Mr. Hill. “We would like to thank them
for all that they have done for the Company.”

Biographies of the six highly qualified nominees for the Board follow:

John Chenault has held a number of increasingly senior roles at Novellus
Systems, Inc., a semiconductor company, prior to his retirement in 2005,
including most recently chief financial officer. Prior to that, he served as
vice president of Corporate Development; vice president of Operation and
Administration; executive vice president of Worldwide Sales and Service; and
executive vice president of Business Operations. Mr. Chenault has been a
director of Ultra Clean since June 2009. Mr. Chenault holds a bachelor of
business degree in economics and a master’s degree in business administration
from Western Illinois University.

John H. F. Miner currently serves as a Managing Director of Pivotal
Investments LLC. Previously, he had a more than 20-year career at Intel, most
recently as co-president of Intel Capital. He also served in a general
management capacity overseeing major Intel product divisions including the
Enterprise Server and Communications Products and New Products Groups, and
Intel's desktop motherboard and PC building-blocks business. Mr. Miner serves
as a director of Pacific Light Technologies Corp., Tuusso and STI. He serves
as a Trustee for the Providence St. Vincent Medical Foundation and as Board
Advisor of SeQuential-Pacific Biodiesel LLC. Mr. Miner holds a bachelor’s
degree in electrical engineering from Tulane University and a master’s degree
in business administration from the University of Oregon.

Christopher A. Seams has been an executive vice president at Cypress
Semiconductor Corporation since 2000, where he is responsible for Sales and
Marketing. In addition to his current Sales and Marketing responsibilities,
his assignments at Cypress have included technical and operational management
in manufacturing, development, and operations. Prior to joining Cypress in
1990, he worked in process development for Advanced Micro Devices and Philips
Research Laboratories. Mr. Seams earned his bachelor's degree in electrical
engineering from Texas A&M University and his master's degree in electrical
and computer engineering from the University of Texas at Austin. Mr. Seams is
a senior member of IEEE, serves on the Engineering Advisory Council for Texas
A&M University, and is a board member of Joint Venture Silicon Valley.

Richard “Rick” S. Hill, who joined the Board in August 2012, served as the
chief executive officer of Novellus Systems, Inc. from 1993, as well as the
chairman from 1996, until its acquisition for more than $3 billion by Lam
Research Corporation in June 2012. Before joining Novellus Systems in 1993,
Hill spent 12 years with Tektronix, Inc., including as president of the
Tektronix Development Company, vice president of the Test & Measurement Group,
and president of Tektronix Components Corporation. He also held
engineering-management positions at General Electric, Motorola, and Hughes
Aircraft Company. Hill is the immediate past chair, and a current executive
committee member, of the University of Illinois Foundation, a member of the
Board of Visitors for the University of Illinois at Urbana-Champaign, and a
member of the board of directors of Arrow Electronics, LSI Corporation, and
Cabot Microelectronics Corporation. Hill graduated in bioengineering from the
University of Illinois at Chicago and earned a master’s degree in business
administration from Syracuse University.

David C. Nagel, Ph.D., who joined the Board in May 2005, was most recently
president and chief executive officer of PalmSource, Inc., a leading provider
of operating system software platforms for smart mobile devices. Prior to
PalmSource, Nagel was chief technology officer at AT&T and president of AT&T
Labs. He previously served as senior vice president at Apple Computer, where
he led Worldwide R&D for all Macintosh products after heading up Advanced
Technology. Before Apple, Nagel had a long career at NASA’s Ames Research
Center as head of human factors research. He has served on a number of
national and international advisory committees, including five years on
President Clinton’s first President’s Information Technology Advisory
Committee (PITAC). Nagel has served on the boards of directors of Palm, Inc.,
Arcsoft, Inc., Epocrates, Nuance, Leapfrog Technologies, and Openwave Systems
(now Unwired Planet). He currently serves on the boards of Vonage Holdings and
Align Technology, in addition to Tessera Technologies, Inc. He also is a
member of the board of Trustees and Executive Council of the International
Computer Science Institute in Berkeley, California. He has in the past served
on advisory boards for both private equity and venture capital companies.
Nagel holds bachelor and master’s degrees in engineering and a doctorate of
philosophy in perception and mathematical psychology, all from UCLA.

Timothy “Tim” J. Stultz, Ph.D., who joined the Board in August 2012, is
currently chief executive officer, president, and a director of Nanometrics
Incorporated, which he joined in 2007. Prior to Nanometrics, Dr. Stultz served
as president, chief executive officer and director of Imago Scientific
Instruments, and as vice president and general manager of Veeco Instruments
Metrology Group where he was instrumental in bringing to market the world’s
first fully automated Atomic Force Microscope. He was also the founder of Peak
Systems, a pioneering company in the area of rapid thermal processing for
semiconductor devices. Prior to founding Peak Systems, Dr. Stultz spent 9
years at Lockheed Palo Alto Research Laboratories where he participated in and
led a variety of research programs in the development of advanced solid state
materials. Dr. Stultz earned his bachelor’s, master’s, and doctorate of
philosophy in materials science and engineering from Stanford University, and
currently serves on the Industrial Advisory Committee for the Materials
Science Department at Stanford.

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 changes to the Board, the search for a new
chief executive officer, the Company’s slate of directors at its annual
meeting of stockholders, the appointments of Messrs. Chenault, Miner and Seams
to the Board and the impact of these appointments on the Company. Material
factors that may cause results to differ from the statements made include the
plans or operations relating to the Company's businesses; 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; the timing and results, which are
not predictable and may vary in any individual proceeding, of any ICC ruling
or award, including in the Amkor arbitration; 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 semiconductor and camera
module products; 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 and
sell products due to high concentration in the markets for semiconductors and
related products and camera modules; the impact of competing technologies on
the demand for the Company’s technologies and products; and the reliance on a
limited number of suppliers for the components used in the manufacture of DOC
products. 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, 2012, 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 Tessera Technologies

Tessera Technologies, Inc. is a holding company with operating subsidiaries in
two segments: Intellectual Property and DigitalOptics. Our Intellectual
Property segment, managed by Tessera Intellectual Property Corp., generates
revenue from manufacturers and other implementers that use our technology. Our
DigitalOptics business delivers innovation in imaging systems for smartphones.
For more information call 1.408.321.6000 or visit www.tessera.com.

Tessera, the Tessera logo, DOC, the DOC logo, and Invensas Corporation 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.

Additional Information and Where to Find It

Tessera Technologies, Inc. (the “Company”), its directors and certain
executive officers and employees may become participants in the solicitation
of proxies from stockholders in connection with the Company’s 2013 Annual
Meeting of Stockholders (the “Annual Meeting”). The Company plans to file a
proxy statement with the Securities and Exchange Commission (the “SEC”) in
connection with the solicitation of proxies for the Annual Meeting (the “2013
Proxy Statement”).

John Chenault, Richard S. Hill, John H. F. Miner, David C. Nagel, Christopher
A. Seams and Timothy J. Stultz, all of whom are members of the Company’s Board
of Directors, and Robert A. Young, President and Chief Executive Officer, C.
Richard Neely, Jr., Executive Vice President and Chief Financial Officer,
Bernard J. Cassidy, Executive Vice President, General Counsel and Secretary
and Moriah C. Shilton, Senior Director, Investor Relations, may become
participants in the Company’s solicitation. Information regarding the
Company’s directors’ and executive officers’ respective interests in the
Company by security holdings or otherwise is set forth in the Company’s proxy
statement relating to the 2012 annual meeting of stockholders. No other
participants own in excess of 1% of the Company’s common stock. Additional
information regarding the interests of such participants will be included in
the 2013 Proxy Statement and other relevant documents to be filed with the SEC
in connection with the Annual Meeting.

Promptly after filing its definitive 2013 Proxy Statement with the SEC, the
Company will mail the definitive 2013 Proxy Statement and a proxy card to each
stockholder entitled to vote at the Annual Meeting. STOCKHOLDERS ARE URGED TO
READ THE 2013 PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS
THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE
SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION. Stockholders may obtain, free of charge, copies of the definitive
2013 Proxy Statement and any other documents filed by the Company with the SEC
in connection with the Annual Meeting at the SEC’s website
(http://www.sec.gov), at the Company’s website (http://ir.tessera.com/sec.cfm)
or by writing to the Secretary, Tessera Technologies, Inc., 3025 Orchard
Parkway, San Jose, California 95134.

Contact:

Tessera Technologies, Inc.
Rick Neely, 408-321-6756
Chief Financial Officer
or
The Abernathy MacGregor Group
Chuck Burgess, 212-371-5999