News Article
Tessera terminates Amkor license
Chip packaging company aims to end agreement in long running dispute.
Tessera Technologies has released a short statement announcing that the company had sent Amkor Technology an official notice of termination of their license agreement with Tessera. The two companies are currently in arbitration regarding multiple issues, including several past breaches by Amkor of the license agreement.
"We have concluded that the best course of action is to terminate Amkor's license agreement with us," stated Henry R. Nothhaft, chairman and chief executive officer, Tessera. "We will take the necessary steps to protect our innovation and technology, our shareholders, and our licensees in good standing."
Amkor Technology responded with a release of their own.
“This latest letter is just another part of Amkor’s ongoing dispute with Tessera regarding the License Agreement and does not affect our business,” said Ken Joyce, Amkor’s president and chief executive officer.
As previously disclosed, Amkor filed a request for arbitration in the International Court of Arbitration of the International Chamber of Commerce against Tessera in August 2009 seeking relief confirming that it is a licensee in good standing, that the License Agreement remains in effect, and seeking damages and injunctive relief against Tessera. Tessera has denied Amkor’s claims, and alleges that Amkor has breached the License Agreement, seeks termination of the License Agreement and asserts that Amkor owes Tessera additional royalties under the License Agreement as well as other damages.
