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Stock Market & Financial Investment News

News Breaks
March 1, 2013
12:40 EDTTSRAStarboard sends open letter to Tessera shareholders
Starboard Value LP, one the largest shareholders of Tessera Technologies with approximately 7% of the outstanding common stock of the company, announced has delivered an open letter to the shareholders of Tessera: "As we described in a letter we delivered to the Board of Directors of Tessera and publicly disclosed on February 19, we believe the company is significantly undervalued and that opportunities exist within the control of management and the Board to unlock value for the benefit of all shareholders. For over a year now, we have been attempting to communicate constructively with Tessera in the hope that we could work together to craft a strategy to improve the company's financial performance and deliver increased value to shareholders of the company. Unfortunately, the existing management team and Board have shown no interest in working with us and instead have adopted certain measures designed to disenfranchise shareholders and entrench a subset of the Board. Recent events indicate that the center of power on the Board and management has no intention of changing, and, in fact, has taken actions to further entrench and insulate themselves from outside influence."
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November 26, 2014
07:02 EDTTSRATessera arbitration award against Amkor upheld by appellate court
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November 17, 2014
07:03 EDTTSRATessera, DOC, O-Film announce amended agreement
Tessera Technologies and its wholly-owned subsidiary DigitalOptics Corporation have agreed to close an amended definitive agreement with Shenzhen O-Film Tech Co., LTD. on December 2, 2014. To date, O-Film has paid Tessera a total of $10.5 million. Pursuant to the terms of the amended agreement, O-Film will pay Tessera an additional $31 million on the closing date, consisting of a $6.5 million prepaid royalty and support fee for a non-exclusive license to specific FotoNation product features over a two year term, $7.5 million for a non-exclusive license for core MEMS auto-focus and other related intellectual property, an undisclosed future per unit royalty for MEMS-based camera modules, $17 million for certain manufacturing equipment and supplies, and certain non-core patents and patent applications. In addition, O-Film has an option to extend the FotoNation license agreement for an additional two and half years if it pays FotoNation an additional $10 million prior to the end of the initial term. The closing of the transaction is scheduled for December 2, 2014 as all closing conditions, including required government approvals in China and Taiwan, have been satisfied.
November 13, 2014
14:45 EDTTSRATessera management to meet with Craig-Hallum
Meetings to be held in Boston on November 18 and in Chicago on November 19 hosted by Craig-Hallum.

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