Invensas Corporation, a leading provider of semiconductor technology solutions and wholly owned subsidiary of Tessera Technologies, Inc. (Nasdaq:TSRA), today announced that it received the Frost & Sullivan 2013 North American Customer Value Enhancement Award in 3D Packaging and 3D IC Market for Mobile Computing for its Bond Via Array (BVA™) mobile technology.
Complete details of the award description and ceremony can be found on invensas.com. The Customer Value Enhancement Award recognizes Invensas for its outstanding accomplishments in Mobile Computing. To quote Frost & Sullivan, “the mobile market constantly needs more bandwidth for the smartphone mania. With the Gen Y generation wanting to run almost all aspects of their lives through smartphones and apps, the demand for speed and bandwidth is increasing. Another cause for concern is power consumption as processing so many apps on a phone drains its battery and reduces its life. Invensas' BVA technology provides mobile and smartphone manufacturers with a cost-effective, reliable, and ready-to-use solution that addresses their bandwidth and power consumption needs today."
"We are delighted to be recognized by Frost & Sullivan and to receive such a strong external validation of our BVA platform through interviews with our customers and competitors," said Simon McElrea, president, Invensas.
In its 50 th year, Frost & Sullivan's global research organization comprises 1,800 analysts and consultants who monitor more than 300 industries and 250,000 companies. The company's research philosophy originates with the CEO's 360-Degree Perspective™, which serves as the foundation of its TEAM Research™ methodology. This unique approach enables it to determine how best-in-class companies worldwide manage growth, innovation and leadership. Based on the findings of its Best Practices research, Frost & Sullivan presented the award to Invensas in a ceremony on September 11, 2013. For more details on the award and technology, go to invensas.com.Safe Harbor Statement This press release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected, particularly with respect to the features, characteristics, market adoption and benefits of Invensas products and technology, including BVA. Material factors that may cause results to differ from the statements made include the plans or operations relating to the businesses; market or industry conditions of Tessera Technologies, Inc. (the “Company”); changes in patent laws, regulation or enforcement, or other factors that might affect the Company's ability to protect or realize the value of its intellectual property; the expiration of license agreements and the cessation of related royalty income; the failure, inability or refusal of licensees to pay royalties; initiation, delays, setbacks or losses relating to the Company's intellectual property or intellectual property litigations, or invalidation or limitation of key patents; the timing and results, which are not predictable and may vary in any individual proceeding, of any ICC ruling or award, including in the Amkor arbitration; fluctuations in operating results due to the timing of new license agreements and royalties, or due to legal costs; the risk of a decline in demand for semiconductor and camera module products; failure by the industry to use technologies covered by the Company's patents; the expiration of the Company's patents; the Company's ability to successfully complete and integrate acquisitions of businesses; the risk of loss of, or decreases in production orders from, customers of acquired businesses; financial and regulatory risks associated with the international nature of the Company's businesses; failure of the Company's products to achieve technological feasibility or profitability; failure to successfully commercialize the Company's products; changes in demand for the products of the Company's customers; limited opportunities to license technologies and sell products due to high concentration in the markets for semiconductors and related products and camera modules; the impact of competing technologies on the demand for the Company's technologies and products; and the reliance on a limited number of suppliers for the components used in the manufacture of DOC products. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. The Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended Dec. 31, 2012, and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, include more information about factors that could affect the Company's financial results. The Company assumes no obligation to update information contained in this press release. Although this release may remain available on the Company's website or elsewhere, its continued availability does not indicate that the Company is reaffirming or confirming any of the information contained herein.
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