Semiconductor packaging technology developer Tessera Technologies is working with Abernathy MacGregor in a proxy fight with activist hedge fund Starboard Value.

Starboard, which has engaged IR/proxy firm Okapi Partners, owns 7.7% of San Jose-based Tessera's outstanding shares and is offering its own slate for Tessera's board, which will be elected at the company's annual meeting next week.

Starboard's pressure is credited with the ouster of Tessera CEO Robert Young in April.

Tessera first quarter 2013 revenue was $31.1M, down from $46.7M in 2012, with a net loss of $44.6M. 

Starboard got a boost May 14 when Tessera's largest shareholder, Amici Capital, threw its support behind the Starboard slate after weighing both groups of nominees.

Okapi president Bruce Goldfarb and senior managing director Patrick McHugh advise Starboard.

Abernathy MacGregor president Chuck Burgess is counseling Tessera in the battle.

Tessera, which says Starboard wants to turn the intellectual property-heavy company into a "patent troll," has the backing of leading proxy firms Institutional Shareholders Services and Egan-Jones. A third firm Glass Lewis & Co. expressed support for some Starboard nominees but the board would remain tipped toward Tessera on its recommendation.

Interim CEO Richard Hill penned an online article for Forbes about the fight headlined "Don't Turn My Company Into a Patent Troll!"