Semiconductor-packaging company Tessera Technologies Inc. ( TSRA ) said a court has awarded it more than $130 million in a dispute with Amkor Technology Inc. ( AMKR ), in addition to about $20 million Amkor already paid to Tessera.
The current case, which began in 2009, marks the second time the two companies have gone to the International Court of Arbitration to resolve the amount of royalties owed in connection with the now-terminated patent license agreement. Last July, Tessera said the arbitration panel confirmed it properly terminated Amkor’s license agreement in February 2011, and allowed it to collect royalties on four foreign patents.
Tessera was awarded $64.1 million in the first arbitration.
The next part of the current arbitration will involve calculations by damages experts to determine the precise amount owed, the company said.
Tessera said it will also continue to pursue additional patent damages and equitable remedies in further proceedings before the ICC, as well as in the U.S. District Court, based in part on the arbitration tribunal’s finding that Amkor’s advanced packaging technology uses Tessera’s intellectual property.
One of Tessera’s largest shareholders, Starboard Value LP, on Tuesday recommended the company shift its efforts to become a patent-licensing entity rather than a technology and design company. The shareholder is also planning to seek seats on the company’s board of directors.
Tessera has disputed some of the criticisms of Starboard, and said it would like to avoid a costly proxy fight.
Shares of Tessera were flat at $17.06 after hours. Through the close, the stock is up 18% over the past three months.
Shares of Amkor were unchanged at $4.62 after hours. The stock is up 18% in the past three months.
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