STATS ChipPAC Ltd. (SCIPF.PK) announced Monday that it has signed a definitive Patent License and Settlement Agreement with Tessera Inc.
This Agreement results in the dismissal of all claims and counterclaims between Tessera Inc. and STATS ChipPAC and its subsidiaries STATS ChipPAC, Inc. and STATS ChipPAC (BVI) Limited and ends the patent litigation between the companies.
In October 2012, the United States District Court for the Northern District of California granted the parties’ stipulated dismissal of the breach of license claims and counterclaims, so that this Agreement ends all outstanding litigation between the parties. The Agreement also provides STATS ChipPAC and its subsidiaries with a 5-year license to Tessera Inc.’s complete patent portfolio for semiconductor packaging technology.
On 4 January 2013, the Company updated its outlook for the Company’s fourth quarter 2012, when the Company expected net revenues to be approximately $475 million to $482 million, an increase of approximately 16% to 18% compared to the prior quarter, with adjusted EBITDA in the range of 25% to 26% of revenue, and capital expenditure of approximately $55 million to $60 million in the fourth quarter of 2012.
STATS ChipPAC now expects net revenues for the fourth quarter 2012 to be approximately $480 million, an increase of approximately 18% compared to the prior quarter due to strong demand in advanced packaging and test services for high end smartphones and tablets.
As a result of the Agreement, STATS ChipPAC expects adjusted EBITDA to be approximately 21% of revenue. Capital expenditure is expected to be approximately $55 million in the fourth quarter of 2012. Excluding the Agreement, adjusted EBITDA would have been within our previous outlook guidance issued on 4 January 2013.
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by RTT Staff Writer
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