LOWELL, Mass. & SAN JOSE, Calif.--(BUSINESS WIRE)--
M/A-COM Technology Solutions Holdings, Inc. (NASDAQ: MTSI) ("MACOM"), a
leading supplier of high performance RF, microwave, and millimeter wave
products, and GigOptix, Inc. (NYSE MKT: GIG) ("GigOptix"), a leading
supplier of advanced semiconductor and optical communications
components, today announced that they have agreed to a global settlement
of all pending lawsuits between them.
These include: (1) the state court case filed by GigOptix against MACOM
subsidiary Optomai, Inc., three former employees of GigOptix who founded
Optomai, Vivek Rajgarhia, Vikas Manan and Stefano D'Agostino, and MACOM,
in Santa Clara County, for alleged misappropriation of trade secrets and
breach of contract, and (2) the federal court case filed by MACOM
against GigOptix in the Northern District of California, for alleged
patent infringement. The parties have agreed to file joint requests with
the relevant courts to fully and finally dismiss both cases, with
prejudice. MACOM has agreed to make a one-time settlement payment of
$7.25 million to GigOptix concurrently with the filing of the
dismissals, which are expected to take place next week. Neither party
admits liability to the other, and each side is satisfied with the
confidential settlement reached between the parties.
About MACOM
M/A-COM Technology Solutions Holdings (www.macomtech.com)
is a leading supplier of high performance RF, microwave, and millimeter
wave products that enable next-generation Internet and modern
battlefield applications. Recognized for its broad catalog portfolio of
technologies and products, MACOM serves diverse markets, including CATV,
wireless and optical communications infrastructure, satellite, radar,
automotive, industrial, medical, and mobile devices. A pillar of the RF
and microwave industry, we thrive on more than 60 years of solving our
customers' most complex problems.
Headquartered in Lowell, Massachusetts, MACOM is certified to the
ISO9001 international quality standard and ISO14001 environmental
management standard. MACOM has design centers and sales offices
throughout North America, Europe, Asia and Australia.
MACOM, M/A-COM, M/A-COM Technology Solutions, M/A-COM Tech, The First
Name in Microwave and related logos are trademarks of MACOM. All other
trademarks are the property of their respective owners.
About GigOptix, Inc.
GigOptix
is a leading fabless supplier of semiconductor and optical
components that enable high-speed end-to-end information streaming
over the network and address emerging high-growth opportunities in the
communications, industrial, defense and avionics industries. GigOptix
offers a unique broad portfolio of Drivers, TIAs and TFPSTM
optical modulators for 40G, 100G and 400G fiber-optic telecommunications
and data-communications networks, and high performance MMIC solutions
that enable next generation wireless microwave systems up to 90GHz.
GigOptix also offers a wide range of digital and mixed-signal ASIC
solutions and enables product lifetime extension through its GigOptix Sunset
Rescue Program.
Forward-Looking Statements
This press release contains forward-looking statements of GigOptix and
MACOM within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the litigation between them.
Such statements contain words such as "will," and "expect," or the
negative thereof or comparable terminology. Forward-looking statements
involve certain risks and uncertainties, and actual results may differ
materially from those discussed in any such statement. Risk factors that
could cause actual results to differ are discussed under the heading
"Risk Factors" and in other sections of GigOptix' and MACOM's filings
with the SEC, and in their other current and periodic reports filed or
furnished from time to time with the SEC. All forward-looking statements
in this press release are made as of the date hereof, based on
information available to GigOptix and MACOM as of the date hereof, and
neither company assumes any obligation to update any forward-looking
statement.
M/A-COM Technology Solutions Inc.
Husrav Billimoria, 978-656-2896
Husrav.Billimoria@macomtech.com
or
Darrow
Associates, Inc.
Jim Fanucchi, 408-404-5400
ir@gigoptix.com
Source: GigOptix, Inc.
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