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Components | June 20, 2011

GigOptix completes acquisition of Endwave

GigOptix,has completed the acquisition of Endwave. At a special shareholder meeting, holders of more than 55% of the outstanding Endwave shares, or more than 98% of the shares represented at the meeting, were voted in favor of the adoption of the acquisition.
Under the terms of the acquisition, all outstanding shares of Endwave common stock will be converted into shares of GigOptix common stock at a conversion ratio of approximately 0.908.

Dr. Avi Katz, GigOptix’s Chief Executive Officer and Chairman of the Board, stated, “The Endwave acquisition is an exciting step towards fulfilling our long-term vision of building the industry's premier one-stop-shop supplier of analog and optical components that enable high speed information streaming. We welcome our new colleagues from Endwave and look forward to continuing on our mission to address customers’ expanding needs for innovative high speed data communications solutions as well as simplifying our customers’ supply chains.”

John Mikulsky, Endwave’s former Chief Executive Officer and newly appointed member of the GigOptix Board, stated, “the combination of GigOptix and Endwave is an ideal blend of technology, opportunity and vision that will benefit our customers, employees and stockholders. I look forward to working on the GigOptix Board of Directors and continuing to be a part of this exceptional company.”

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