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Starboard has a long history of working constructively with management teams and boards of directors of undervalued and underperforming public companies to identify and execute on opportunities to unlock value for the benefit of all shareholders. Our interests are directly aligned with yours and we believe that there is significant value to be realized at Tessera. ("Tessera" or the "Company"), making us one of the Company's largest shareholders. Starboard Value LP, together with its affiliates ("Starboard"), currently owns approximately 7.6% of the outstanding common shares of Tessera Technologies, Inc. Open Letter to Shareholders of Tessera Technologies, Inc.
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(NASDAQ: TSRA) ("Tessera" or the "Company") with approximately 7.6% of the outstanding common stock of the Company, announced today that it has delivered an open letter to the shareholders of Tessera, the full text of which is included below: and its subsidiaries generate revenue from licensing to manufacturers and other implementers that use the Company’s technology in areas such as mobile computing and communications, memory and data storage, and 3-D IC technologies.NEW YORK, Ma/PRNewswire/ - Starboard Value LP (together with its affiliates, "Starboard"), one the largest shareholders of Tessera Technologies, Inc. We wish him the very best in his new endeavors.” “I would also like to thank Simon for his many contributions to the Company over the past four years. His leadership will be instrumental in achieving our future growth initiatives,” said Tom Lacey, Tessera’s CEO. Craig has a deep understanding of technology development combined with a collaborative approach to creating value for our customers. “We are thrilled to have someone of Craig’s experience and abilities assume this important role within the company. I look forward to working with our highly talented technology team to deliver the next generation of game-changing technologies to our customers,” said Mr.
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The Company’s approach to technical collaboration and partnerships is consistent with our goal of driving enabling technologies, such as xFD and BVA, into high volume production with our customers. “Although I have been with the company for over 20 years, I am more excited than ever. Mitchell will drive the development and commercialization of xFD, BVA, and 2.5D/3D interconnect technologies as well as efforts to expand the Invensas portfolio of interconnect technologies. Mitchell is also the named inventor on more than 60 U.S. He was a central figure in the development, licensing and technology transfer of the company’s flagship microBGA packaging technology to leading semiconductor manufacturers. Mitchell, who was most recently the senior vice president of business development, joined the company in 1992 and has held a variety of senior roles in technology development, marketing, and licensing. Mitchell assumes these roles from Simon McElrea, who is leaving the company for a new opportunity. today announced it has named Craig Mitchell as chief technology officer for Tessera and president of Invensas Corporation, effective immediately.