Tessera expects MEMS optics design win in smartphones early in 2012

February 1, 2012 – BUSINESS WIRE — Tessera Technologies Inc. (NASDAQ:TSRA) expects a mobile phone design win for its micro electro mechanical system (MEMS) optical imaging technology in H1 2012, reported Robert A. Young, president and CEO.

The company will also announce major steps toward high-volume manufacturing of MEMS devices in H2 2012, Young said. Also read: MEMS alternatives for miniature auto-focus cameras

Tessera intends to file its definitive proxy statement on or near Febuary 17, 2012. The company will hold its annual meeting March 30, 2012 at its principal executive offices.  

Tessera also announced that, after a series of discussions with Starboard Value LP and affiliates, Starboard has agreed in writing to rescind its nomination notice for the election of directors at the upcoming 2012 Annual Meeting of Stockholders. More about the Tessera stockholder challenge here.

Tessera Technologies, Inc. is a holding company for two businesses. The Company’s Intellectual Property reporting segment (formerly known as Micro-electronics) is a patent licensing business that owns patents generated in over 20 years of semiconductor packaging research and development. The Company’s other reporting segment, DigitalOptics (formerly known as Imaging & Optics), offers camera module solutions that provide cost-effective, high-quality camera features, including extended depth of field (EDoF), zoom, image enhancement, optical image stabilization and MEMS-based auto-focus. Go to www.tessera.com.

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