Tessera Technologies Inc (TSRA) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2007

Exhibit 99.1

TESSERA TECHNOLOGIES ANNOUNCES FOURTH QUARTER 2007

FINANCIAL RESULTS

- Fourth Quarter 2007 Royalties and License Fees Grew 31 Percent versus Prior Year Quarter

- 2007 Royalties and License Fees Grew 60 Percent versus 2006-

- Signs Definitive Agreement to Acquire FotoNation -

San Jose, Calif., January 31, 2008 –

Revenue Highlights: Fourth Quarter 2007

Generally accepted accounting principles (GAAP) net income for the fourth quarter of 2007 was $13.0 million, or $0.27 per diluted share, and included non-cash charges of $4.9 million for stock-based compensation and $1.9 million for deal amortization.

Non-GAAP net income for the fourth quarter of 2007 was $25.1 million, or $0.51 per diluted share. Non-GAAP net income and operating expenses are defined as income and operating expenses adjusted for non-cash tax expense, deal amortization charges, and stock-based compensation. Non-GAAP net income per share equals non-GAAP net income divided by the weighted diluted share count as of that period end.

“Solid DRAM and wireless unit growth and new consumer optics licensees drove our full year 2007 royalties and license fees up approximately 60 percent compared to 2006,” said Bruce McWilliams, chairman, president and CEO for Tessera. “We are currently involved in two enforcement actions, and we believe their successful resolution could greatly increase our wireless market share in 2008.”

“Our consumer optics business continues to flourish with the recent signing of new consumer optics licensees, Toshiba and Nemotek. Today, we also announced we have signed a definitive agreement to acquire FotoNation, a leading provider of embedded

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