Tessera pays $1 million to secure option to acquire 51% of RT LTA Systems
HLSQ•Tessera paid $1 million for a 90-day option to acquire 51% of RT, with pricing based on the lower of a $13 million equity valuation or an earnout formula tied to 2026–2028 revenue and EBITDA.
1. Option terms
The deposit, paid October 15 under a September 24 agreement, will be credited toward the purchase price if Tessera exercises the option; otherwise, it is refundable. Exercise is subject to due diligence and approvals, including validation of RT’s reported approximately $15 million backlog. RT must provide a nonexclusive, perpetual technology license within 60 days of the agreement regardless of whether the acquisition proceeds.
