Tessera Technologies Sells Micro-Optics Assets to FLIR

  Tessera Technologies Sells Micro-Optics Assets to FLIR

Business Wire

SAN JOSE, Calif. -- August 12, 2013

Tessera Technologies, Inc. (NASDAQ: TSRA) (the “Company” or “Tessera”)
announced today that FLIR Systems, Inc. (“FLIR”) has acquired a significant
portion of the assets of Tessera’s Micro-Optics business based in Charlotte,
North Carolina. Total consideration paid by FLIR was approximately $15
million.

“This transaction is one of the substantive structural changes we announced we
would make in the second half of 2013 as we continue to refine our focus on
our differentiated MEMS-related technologies,” stated Thomas Lacey, interim
CEO of Tessera Technologies, Inc. “I would like to thank the Micro-Optics
employees for their contributions and efforts and believe this transaction is
the right step forward for the future of that business.”

Discontinued Operations

In the fourth quarter of 2012, the Company announced that its Micro-Optics
business in Charlotte, North Carolina was no longer part of its long-term
strategy, and that it was exploring strategic alternatives for this business.
In the second quarter of 2013, the Company actively pursued a sale of this
business and started classifying the business as discontinued operations.

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 sale of the Micro-Optics business assets, the
Company’s announced structural changes, and the Company’s differentiated
MEMS-related technologies. 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 June 30, 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, Inc.

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.

TSRA-G

Contact:

Tessera Technologies, Inc.
Moriah Shilton, 408-321-6713
Sr. Director, Communications & Investor Relations
 
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