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Stock Market & Financial Investment News

News Breaks
November 6, 2012
20:02 EDTAMKRAmkor Technology announces CEO Ken Joyce to retire next year
Amkor Technology announced that Ken Joyce intends to retire as president and CEO and director of the company by the end of 2013, following more than 15 years of service to the company. The company's board has created a search committee to identify Joyce's replacement. An executive recruiting firm has been retained to conduct an outside search and also to assist with the assessment of internal candidates.
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January 15, 2015
16:14 EDTAMKRTessera raises 2015 recurring revenue from $195M to $235M
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16:10 EDTAMKRAmkor to pay $155M to Tessera in litigation settlement
Tessera Technologies (TSRA) subsidiary Tessera, Inc., has entered into an agreement with Amkor Technology (AMKR) to settle all pending litigation between Amkor and Tessera, Inc. Under the terms of the agreement, Amkor will pay Tessera a total of $155M, comprised of sixteen equal quarterly recurring payments commencing in Q1 and continuing through 4Q18. This settlement includes the resolution of the previously awarded judgment of $128.3M plus interest, as well as additional amounts related to the settlement of other proceedings. Subsequent to this agreement, Tessera is raising its 2015 recurring revenue guidance from $195M to $235M. The parties have agreed to a mutual release and dismissal of all claims relating to their pending litigation and arbitration proceedings. The settlement agreement also provides that Tessera and Amkor will look for opportunities to engage in potential technology collaboration. Amkor expects to record an after-tax charge to earnings in Q4 for most of the total settlement amount.

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