Amkor Technology, Inc. (Nasdaq:AMKR) announced that it received a notice from Tessera, Inc. purporting to terminate Amkor’s Patent License Agreement with them. “This latest letter is just another part of Amkor’s ongoing dispute with Tessera regarding the License Agreement and does not affect our business,” said Ken Joyce, Amkor’s president and chief executive officer. As previously disclosed, Amkor filed a request for arbitration in the International Court of Arbitration of the International Chamber of Commerce against Tessera in August 2009 seeking relief confirming that it is a licensee in good standing, that the License Agreement remains in effect, and seeking damages and injunctive relief against Tessera. Tessera has denied Amkor’s claims, and alleges that Amkor has breached the License Agreement, seeks termination of the License Agreement and asserts that Amkor owes Tessera additional royalties under the License Agreement as well as other damages.
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