Tessera Technologies Names John Allen Acting CFO
SAN JOSE, Calif. -- June 26, 2013
Tessera Technologies, Inc. (NASDAQ:TSRA) (“Tessera” or the “Company”) today
announced the appointment of John Allen as acting chief financial officer
(“CFO”), effective June 26, 2013. Allen, the Company’s corporate controller
since December 2012, will report to Thomas Lacey, Tessera’s interim chief
executive officer, and will be responsible for the Company’s finance,
accounting, financial planning, IT and investor relations functions in
addition to his ongoing duties as corporate controller. Allen succeeds C.
Richard Neely, Jr., whose tenure as the Company’s executive vice president and
CFO ended on June 26, 2013.
“John has demonstrated through his position as the Company’s corporate
controller and in his over 20 years of financial and managerial experience
with high technology companies that he will be a vital contributor and leader
as the Company continues to execute on its strategic plan for long-term
sustainable growth and profitability,” said Lacey.
Allen, age 49, has served as senior vice president and corporate controller
for the Company since December 2012. Before that, Allen served as vice
president, corporate controller and chief accounting officer of Corsair
Components, Inc., a designer and supplier of high-performance components to
the personal computer gaming hardware market, from July 2010 to December 2012.
From January 2004 to June 2010, Allen served as corporate controller and as
CFO of Leadis Technology, Inc., a publicly-traded company that designed,
developed and marketed analog and mixed-signal semiconductor products for
consumer electronics. Allen has also served in finance and accounting roles
for a number of other publicly-traded technology companies, including Advanced
Micro Devices, Xilinx, and Asyst Technologies, and formerly was employed by
Ernst & Young as a certified public accountant. Allen holds a Bachelor of Arts
degree in Business Economics from the University of California, Santa Barbara.
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 appointment of Mr. Allen as acting chief
financial officer and the impact of this change on the Company and the
Company’s strategic plans, growth and profitability. 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, and its Quarterly Report
on Form 10-Q for the quarter ended March 31, 2013, 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.
Tessera Technologies, Inc.
Moriah Shilton, 408-321-6713
Sr. Director, Communications & Investor Relations
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