August 28, 2013 at 08:00 AM EDT
GigOptix Statement Regarding Pacific Wave Industries Patents

GigOptix, Inc. (NYSE MKT: GIG), a leading supplier of advanced semiconductor and optical communications components, today announced that it has reviewed the complaint for patent infringement filed against it by M/A-COM Technology Solutions, Inc. (“MACOM”), and will be filing a response with the United States District Court for the Northern District of California in accordance with applicable rules.

In its review of the complaint filed by MACOM, GigOptix notes that the complaint references a December 2008 lawsuit filed in the Superior Court of Los Angeles County, California entitled Pacific Wave Industries, Inc. v. University of Southern California which named GigOptix’ wholly-owned subsidiary, Lumera Corporation (“Lumera”), as a defendant. Neither Lumera nor GigOptix has any knowledge of such earlier lawsuit, and records of the Superior Court of Los Angeles County, California contain no proof of service of the lawsuit on Lumera, but do contain a filing by plaintiff Pacific Wave Industries stating that it had not served Lumera. Shortly after making that filing, in June 2009, plaintiff Pacific Wave Industries dismissed Lumera as a defendant and also dismissed the entirety of the lawsuit.

According to the records of the U.S. Patent and Trademark Office, Pacific Wave Industries executed on August 10, 2013 a written assignment to MACOM of the two patents at issue in the MACOM complaint, just as the Superior Court of Santa Clara County, California was continuing from August 26, 2013 to September 23, 2013 for administrative reasons the trial date in the lawsuit brought by GigOptix against MACOM, its subsidiary Optomai, Inc., and three of GigOptix’ former employees for misappropriation of confidential information and trade secrets and breach of the contractual and legal obligations to GigOptix of the former employees, and while certain of the individuals named as defendants by GigOptix are being investigated also by the United States Attorneys’ Office for the Northern District of California. GigOptix does not believe that Pacific Wave Industries ever developed products practicing the claims in the two patents, and is unaware of MACOM having any such or related developments or products in the marketplace, more so during the few weeks since their assignment. In light of MACOM’s assertion that it has made an “investment in innovation”, GigOptix expects that there will be discovery regarding MACOM’s intention in acquiring these two patents and the contribution of them to the enrichment of its “innovation” portfolio.

GigOptix will continue to review the two patents at issue in the complaint filed by MACOM. However, while GigOptix is continuing its investigation, and recognizing that the outcome is not presently known, in light of the initial discovered facts, the claims and the products, GigOptix doesn’t believe that MACOM’s actions will have any material impact on GigOptix’ financial position.

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 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 involving MACOM and the GigOptix Thin Film Polymer on Silicon (TFPSTM) modulators. Such statements contain words such as "will," and "expect," or the negative thereof or comparable terminology, and include (without limitation) statements regarding growth, opportunities, continued traction, contracts, improvements and our statements under the heading "Financial Outlook." Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. These risks include, but are not limited to: the ability to extend product offerings into new areas or products, the ability to commercialize licensed technology, unexpected occurrences that deter the full documentation and "bring to market" plan for products that were developed this year and last year, trends and fluctuations in the industry, changes in demand and purchasing volume of customers, unpredictability of suppliers, our ability to control our costs of goods sold, our ability to attract and retain qualified personnel, the ability to move product sales to production levels, the ability to compete for client design-in opportunities, the ability to cross-sell to new clients and to diversify, the success of product sales in new markets or of recently produced product offerings, including bundled product solutions, the amount of cost savings, the ability to improve productivity, the ability to pursue and attract other merger and acquisition opportunities, our ability to enforce intellectual property rights and defend against intellectual property claims brought against us, and the ability to maintain and continue relationships with government agencies. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of the Company's filings with the SEC, and in the Company's 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 the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.

Contacts:

Darrow Associates, Inc.
Jim Fanucchi, 408-404-5400 (Investors)
ir@gigoptix.com
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