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8-K - FORM 8-K - TESSERA TECHNOLOGIES INC | d8k.htm |
Exhibit 99.1
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Exhibit 99.1
TESSERA
Corporate Presentation
March 2011
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Safe Harbor
This presentation and the accompanying speakers remarks may contain forward-looking statements made in reliance on 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.
Material factors that may cause results to differ from the statements made include delays, setbacks or losses relating to our intellectual property or intellectual property litigations, or any invalidation or limitation of our key patents; fluctuations in our operating results due to the timing of new license agreements and royalties or due to legal costs; changes in patent laws timing of new license agreements and royalties, or due to legal costs; changes in patent laws, regulation or enforcement, or other factors that might affect our ability to protect our intellectual property; the risk of a decline in demand for semiconductor products; failure by the industry to adopt our technologies; competing technologies; the future expiration of our patents; the future expiration of our license agreements and the cessation of related royalty income; the failure or refusal of licensees to pay royalties; failure to achieve the growth prospects and synergies refusal of licensees to pay royalties; failure to achieve the growth prospects and synergies expected from acquisition transactions; and delays and challenges associated with integrating acquired companies with our existing businesses.
You are cautioned not to place undue reliance on the forward-looking statements, which speak only as off the date off this presentation. Tesseras filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2010, include more information about factors that could affect the companys financial results.
Tessera assumes no obligation to correct or update information contained in this presentation.
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Develops and monetizes innovative miniaturization technologies, which are differentiated by intellectual property content, through licensing or product sales
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Tessera At A Glance
Founded in 1990; IPO in 2003
Headquartered in San Jose, CA
2010 Revenue $301.4M
2010 GAAP Net Income $57.3M
2010 Non-GAAP Net Income $91.2M
$475 0M in cash, cash equivalents and investments at Dec. 31st
$76. 2M in Free Cash Flow in 2010
Free Cash Flow is Operating Cash Flow minus purchase of property, equipment and patents
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The Edison Labs of the 21st Century
Ongoing Investment in Innovation
$74.1 million R&D investment in 2010
Global organization
Robust patent portfolio approximately 2,250 worldwide patent and patent applications
2,500 2,000 1,500 1,000 500 0 2005 2006 2007 2008 2009 2010
Imaging & Optics
Micro-electronics
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Smartphone Patented Innovation
Over 350 Imaging & Optics Patents and Patents Pending
Over 400 Micro electronics Patents and Patents Pending
For Illustrative Purposes Only
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Micro-electronics: Licensing Innovation
Technology and patent licensing focus: renewals and new
In-house innovation
Acquisition of complementary patent portfolios
Broad use of Tessera patents and technology
Memory
Double Data Rate Two (DDR2)
Double Date Rate Three (DDR3)
Mobile DDR-DRAM
NOR and NAND Flash Memory
Wireless Application Specific Integrated Circuits
Baseband Processors
Radio Frequency (RF) Transceivers
Audio/Video/Image Processors
Connectivity: Bluetooth, Wi-Fi, among others
Microcontrollers
Applications Central processing Unit (CPUs)
Power Management
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CSP for High-Performance Memory Today & Beyond
Unit Volumes (M)
35000 30000 25000 20000 15000 10000 5000 0 2009 8,152 2,279 2010 5,713 7,887 2011 5,010 11,991 2012 4,922 17,181 2013 4,607 24,343 2014 5,454 27,110
DDR2 DDR3&4
DDR3 remains mainstream memory solution beyond 2013
Will be extended to higher frequencies (1600 1866 2133+ MHz) and lower voltages
DDR4 not defined; being pushed out further possibly 2014
Tessera CSP technology can meet DDR3+ performance & cost requirements today
Source: Gartner Dataquest, Feb. 2011
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Advanced Packaging
MEMORY: CAPACITY + PERFORMANCE
Next Gen. Server & DDR Module Technologies
Solid-State Drive & Managed-NAND Solutions
Scalable Performance with Reduced Power & Cost
Interconnect/Package
IC Circuitry
Board/Interposer
System/Architecture
Enabling Materials
WIRELESS: BANDWIDTH + BATTERY LIFE
Advanced CSP & Stacked-IC Technologies
Mobile Solutions for Mobile Memory Integration
Scalable Performance with Reduced Power & Cost
Interconnect/Package
IC Circuitry
Board/Interposer
System/Architecture
Enabling Materials
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2011 Innovation Update: IP Pipeline
300% 250% 200% 150% 100% 50% 0%
2011 2012 2013 2014 2015 2016 2017
Single Die Multi-Die 3D-IC
3D-IC Solutions (TSV etc.)
34% of YTD 2011 IP Pipeline
Multi-Chip CSP Solutions
48% of YTD 2011 IP Pipeline
Single Chip CSP Solutions
18% of 2011 YTD IP Pipeline
Source: New Venture Search, Yole, Prismark, Gartner Averaged (Memory Basis)
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Silent Air Cooling
THIN
Enables Dominant Design Trend
SILENT
Reduced Noise Improves User Experience
FLEXIBLE
Form Factor Lowers Cost Enhances Product Design Capability
COMFORT
Skin Temperature Meets OEM Specs
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Imaging & Optics: Delivering Products and Technologies
Extended Depth of Field (EDOF)
Zoom
Micro Electro Mechanical Systems (MEMS)
Micro-optics
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The Market Opportunity Smart Phones
Fastest Growing Segment in the Mobile Handset Market
2500 2250 2000 1750 1500 1250 1000 750 500 250 0
2008 2009 2010 2011 2012 2013 2014 2015
>8 MP Market (Munits)
5 MP Market (Munits)
3 MP Market (Munits)
2 MP Market (Munits)
1,3 MP Market (Munits)
VGA Market (Munits)
EDOF 3Mp+
2011 SAM of ~990 million units growing to ~1.36 billion units in 2013
Zoom 5Mp+
2012 SAM of ~210 million units growing to ~300 million units in 2013
MEMS 5Mp+
2012 SAM of ~660 million units growing to ~815 million units in 2013
Source: Yole Development, January 2010
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Smart Phone Size Direction
Tesseras EDOF and MEMS technology enable smaller profile handsets
Tesseras OptiML Zoom brings additional DSC capability to camera phones
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Meeting Market Demand and Consumer Expectations
Delivering on the Promise of DSC Like Functionality and High Quality Video in a Camera Phone
Size
Primary product requirement
Tessera meets the size constraints of next generation handsets
Performance
The cell phones role as consumers primary tool driving higher performance and more full featured cameras in a mobile platform
Tessera enables the fastest and most precise auto focus capability
Low Power Consumption
Growing video demand makes power consumption a critical feature
Tessera provides the lowest power consumption
Image Quality
Trend towards ever better image quality and additional uses for camera phones
Tessera delivers real time image correction and optimization
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The Camera Phone is now the Video Phone
Camera phone is the convergence device of choice
Market growth dependent on ability to deliver true DSC image quality
Video emerging as the killer app
Video viewfinder
Tessera EDOF technology enables the smallest profile cameras with auto focus like performance
Tessera MEMS technology supports the move to HD video
High resolution auto focus camera
Tessera Image Enhancement technologies provide improved video image quality
Tessera MEMS technology meets the need for lower power continuous autofocus capability
Tessera OptiML Zoom enables even higher end camera functionality in camera phones
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Tessera Has the Solutions
OptiML Zoom Advantages
Lower profile (<8mm) and cost than mechanical zoom
Higher image quality than digital zoom
Fast 3X zoom capability with no moving parts
Silent operation for use in video capture
Low/fixed F# 2.8
Meets reliability requirements of mobile cameras
OptiML Focus
EDoF (OptiML Focus & UFL): 14cm* infinity
Alternative to mechanical auto-focus <8MPix; best price/performance
Enhances fixed focus solutions for 2,3,5 & 8MPix to allow
Barcode reading
Business card reading
Improved low-light performance
Relaxed lens manufacturing tolerances
Water-level cameras
8MPix auto-focus cameras
Mature Technology
Major handset OEMs using OptiML technology
>25 handsets in mass production
Continuous AF
*14cm reading distance achieved with 1/5
Zoom
Slim size
Power savings
Low light compensation
Low cost solution for Barcode recognition
Image enhancement
OptiML MEMS AF Camera Advantages
Size: Enables smallest size integrated auto focus + shutter camera solutions
Performance: Provides fastest, most precise and repeatable auto focus with position feedback capability
Power: Lowest power consumption (1/200 of VCM)
Video: Enables optimal continuous auto focus support
Cost: Reduces camera BOM and assembly complexity
Embedded Image Enhancement Solutions
Red-Eye
Red-eye Correction
Golden-eye Correction
Face Tools
Face Tracking
Smile Detection
Blink Correction Beautification
Recognition
Video Tools
Image Stabilization
Beautification
Panorama
Panoramic
Stitching
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TESSERA
Transforming the Future