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Tessera Inc., a San Jose-based designer of semiconductor miniaturization technologies, announced Thursday that Taiwanese chip packager Powertech Technology Inc. had agreed to pay $196 million to settle a long-running patent licensing dispute.

“To state the obvious, we’re delighted with this outcome,” Tessera’s chief financial officer, Thomas Lacey, said during a conference call Thursday. Tessera was represented in the underlying Northern District patent litigation by a team from Irell & Manella led by Ben Hattenbach and Laura Seigle. Powertech was represented by a Baker Botts team led by George Hopkins Guy III.

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