Company to be renamed GigPeak Inc.
GigOptix Inc., a leading supplier of advanced semiconductor communications components for use in Cloud connectivity, data centers, and high-speed optical and wireless networks, announced the signing of a definitive agreement to acquire Magnum Semiconductor Inc., a privately-held Milpitas, California-based provider of silicon ICs, SoCs, software, and IP for the professional video broadcast and IoT camera markets, in a cash and stock transaction valued at approximately $55 million net based upon the average closing price of GigOptix stock for the trailing thirty day period ended April 1, 2016.
