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All done – GigOptix now owns Magnum Semiconductor
GigOptix – or rather GigPeak as the company has now been renamed as – has closed its acquisition of the privately-held Milpitas, California-based provider of silicon ICs and SoCs, Magnum Semiconductor, Inc.
As previously reported, the cash and stock transaction was valued at approximately USD 54 million net based upon the average closing price of GigOptix stock for the trailing thirty day period ended April 1, 2016.
Along with the completion of the acquisition, GigOptix, Inc. has been renamed GigPeak, Inc. The renaming represents the broadening scope and capabilities of GigPeak, which brings together GigOptix’s high-speed enterprise networking connectivity portfolio with Magnum’s expertise in video broadcasting, compression, and analytics.
