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amkor technology inc (AMKR) Key Developments

Amkor Technology Inc Announces Rulings in License Agreement Related Dispute with Tessera Technologies Inc

Amkor Technology Inc. announced two rulings in its long-running dispute with Tessera Technologies Inc. related to a license agreement entered into in 1996 between Tessera and Amkor's predecessor. the Patent Trial and Appeal Board at the United States Patent and Trademark Office, in an inter partes review proceeding, or IPR, ruled on Amkor's petition seeking cancellation of certain claims of U.S. Patent No. 6,046,076. In a two-one decision, the IPR board reversed its preliminary determination and denied Amkor's petition with respect to the most material claims.

California State Court Confirms Tessera, Inc.'s Arbitration Award and Enters Judgment of $128,335,504 Plus Post-Judgment Interest against Amkor Technology, Inc

Tessera Technologies, Inc. announced that a California state court confirmed Tessera, Inc.'s arbitration award and entered judgment of $128,335,504 plus post-judgment interest against Amkor Technology, Inc. and that the U.S. Patent Office confirmed the patentability of key claims in a Tessera patent that Amkor had challenged in an inter partes review (IPR) proceeding. The patent was one of several at issue in the arbitration. Earlier this year, a tribunal convened by the International Court of Arbitration of the International Chamber of Commerce issued a damages award in Tessera's favor after finding that Amkor had breached its 1996 license agreement with Tessera, Inc. Tessera, Inc. filed a petition to confirm the award in the Superior Court of California, County of San Francisco -- a first step towards enforcement of the award. Amkor opposed confirmation and filed a petition to vacate, modify, or correct the award, arguing that the arbitrators exceeded their authority. Amkor also filed a motion to stay. The Superior Court issued an order granting Tessera's petition and denying Amkor's petition and motion, and entered judgment in Tessera's favor. The Court ordered that Amkor must pay Tessera $112,851,731 in damages and $15,483,773 in pre-judgment interest. The Court also ordered that post-judgment interest will continue to accrue on the unpaid principal. Based on the current amount of unpaid principal, the post-judgment interest will accrue at $30,918 per day.

Amkor Technology Seeks Acquisitions

Amkor Technology, Inc. (NasdaqGS:AMKR) will consider acquisitions. Greg Johnson, Senior Director, IR and Corporate Communications said, "I think typically the most interesting stuff for us in the M&A world is helping some of our IDM partners exit their back-end. We've been able to take a lot of cost side of the business, and we've signed up four or five other major customers in the power discrete business are going to start ramping in 2015. Those tend to work really well for us, and we are always on the lookout for those opportunities. Tuck-in acquisitions can also work if they make sense, strategic sense as well as cost sense. Again, the transactions within the OSAT space, as we talked about before, can be a little challenging depending on the customer overlap and the price."

Amkor Technology, Inc. Names David Watson as New Member of Board of Directors

Amkor Technology, Inc. announced that David Watson has been appointed as a new member of the company's board of directors. With this appointment, Amkor's Board has been expanded to nine members. Mr. Watson is currently serving as Executive Vice President and Chief Operating Officer for Comcast Cable. In this role Mr. Watson oversees the teams responsible for day-to-day operations of the cable division, including sales and marketing of cable video, high-speed Internet and voice services, as well as oversight of the three operating divisions and Comcast Spotlight, the advertising sales unit. Before joining Comcast Cable in 1991, he served for seven years with Comcast Cellular Communications, Inc., first as Senior Vice President of sales and marketing and later as President. Previously, he headed sales and marketing efforts at Bell Atlantic Mobile and Metrophone.

Amkor Technology, Inc. Presents at Credit Suisse 15the Annual Asian Technology Conference, Sep-10-2014

Amkor Technology, Inc. Presents at Credit Suisse 15the Annual Asian Technology Conference, Sep-10-2014 . Venue: Grand Hyatt Taipei, 2 SongShou Road, Taipei, 11051, Taiwan.

 

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