Tessera Technologies, Inc. (NASDAQ:TSRA) (“Tessera”, the “Company” or “we”) announced that its Tessera, Inc. and Invensas Corporation (“Invensas”) subsidiaries entered into an agreement to settle their pending cases against Renesas Electronics Corporation (“Renesas”) and Renesas Electronics America, Inc. In conjunction with the settlement, Renesas entered into new multi-year patent license agreements with Tessera, Inc. and Invensas and transferred over 200 U.S. patents and their counterparts to a subsidiary of Tessera.
“We are pleased that Renesas has entered into these multiyear licenses with Tessera, Inc. and Invensas,” said Thomas Lacey, Chief Executive Officer, Tessera Technologies, Inc. “Renesas is a world leader in developing technology for the semiconductor industry in microcontroller integrated circuit products. We are delighted that we have reached a settlement with Renesas and that they are transferring their patent assets to one of our subsidiaries.”
The companies did not disclose the specific financial terms of the agreements.