Tessera Sells Singapore Manufacturing Facility
Tessera Inc. (San Jose, CA), a semiconductor provider and licensor of chip scale packaging (CSP) technology, and EEMS Italia SpA (Italy), a European integrated circuit assembler, announced the sale of Tessera's Singapore manufacturing facility to EEMS. Under the terms of the agreement, EEMS is purchasing 100 percent of the assets related to Tessera's manufacturing facility in Singapore, including all equipment and existing inventories, as well as transfer of personnel. Tessera announced in March, 2000 that it would sell the facility in order to increase the company's focus on its IP business model."The sale of the Singapore facility frees up valuable resources that will allow Tessera to better focus on its IP business model and more aggressively grow its services business," said Bruce McWilliams, president and CEO of Tessera. "More importantly, the agreement with EEMS positions Tessera to introduce future packaging technologies at a much quicker rate, which will ultimately help accelerate the industry's adoption of CSP technology."Earlier this month, Tessera came a step closer towards resolving its case against Texas Instruments (Dallas, TX) in Federal District Court after the judge granted Tessera's motion to transfer the venue for the litigation from Los Angeles to the Northern District of California.