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GigOptix acquires RF solution provider Endwave

Posted: 11 Feb 2011 ?? ?Print Version ?Bookmark and Share

Keywords:wireless mobile? backhaul communications? high-frequency RF solutions?

Electronic and electro-optic components supplier, GigOptix Inc. has inked a definitive merger agreement to buy Endwave Corp, a high-frequency RF solutions and mobile semiconductors provider for wireless mobile backhaul communications, satellite communications, electronic instruments, as well as defense and security markets.

Under the terms, all outstanding shares of Endwave common stock, including those issuable upon settlement of outstanding restricted stock units, and outstanding in-the-money Endwave stock options, will be converted into shares of GigOptix common stock such that immediately after the merger, such shares represent approximately 42.5 percent of all outstanding GigOptix common stock.

Based on the number of shares of Endwave and GigOptix common stock outstanding as of January 31, 2011, approximately 9.1 million shares of GigOptix common stock will be issued to holders of Endwave common stock, registered stock units and stock options.?

The combined company shall retain the name GigOptix Inc., to become a high speed, high frequency provider of optical and wireless communications. The acquisition is anticipated to close in Q2 2011.?

GigOptix will formally announce Q4 2010 and 2010 year-end financial results on Feb. 24, 2011. The Q4 2010 revenue is expected to be over $8 million, representing an increase of more than 10 percent compared to the Q3 2010, and exceeding GigOptix's previously stated guidance of a 7 percent to 10 percent increase.

Last year, GigOptix also completed the acquisition of ChipX Inc., a supplier of application specific integrated circuits (ASICs).

Mark LaPedus
EE Times

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