Tessera: Adding Vista Point Technologies, losing Powertech Technology?

July 2, 2012 – BUSINESS WIRE — Tessera Technologies Inc. (NASDAQ:TSRA) has received notice from Powertech Technology Inc. (PTI) that it will terminate its license agreement with the semiconductor packaging and optics technology company. Tessera also completed phase 1 of its acquisition of camera module technologies from Flextronics.

Tessera Inc., a wholly-owned subsidiary of Tessera Technologies Inc., received a letter from Powertech Technology Inc. (PTI) that purports to terminate its license agreement with Tessera Inc. PTI stated that on July 30, 2012, it will make a payment to Tessera Inc. in protest under the license agreement for the quarter ended June 30, 2012.

PTI filed a complaint against Tessera, Inc. in December of 2011, seeking a declaratory judgment that PTI had the right to terminate its license agreement due to a breach of contract by Tessera, Inc.

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