news digest ♦ Telecoms
$3.9 trillion in institutional assets currently are benchmarked to them.
Annual reconstitution of Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalisation to create the Russell 3000 and Russell Microcap Indexes. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
GigOptix completes acquisition of Endwave
The firm believes the acquisition will fulfil its long- term vision of building the industry’s premier one-stop-shop supplier of analogue and optical components that enable high speed information streaming.
Supplier of semiconductor and optical components that enable high speed information streaming, GigOptix, has announced that at a special Endwave Corporation stockholders meeting, the stockholders voted to approve the acquisition of Endwave by GigOptix.
At the 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 favour 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.
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 analogue 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.”
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www.compoundsemiconductor.net July 2011
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.”
As part of the consolidation, GigOptix will proceed with strategic changes to its leadership structure that include a horizontal class of functional organisations led by three executives, which are supported by three general manager executives each leading specific vertical product lines. This revised structure will assist in streamlining collaboration within GigOptix, while also enabling an expansion of GigOptix’s business and product portfolio in order to better position GigOptix for future growth.
Katz concluded, “We have already initiated many preliminary in-house activities in preparation for the physical and operational integration process. As such, we expect the majority of the integration process to be completed early in the third quarter of this year, including the relocation of our corporate headquarters to the current Endwave site at 130 Baytech Drive, San Jose, California 95134. Additionally, we continue to actively pursue the listing of GigOptix’s shares on the NYSE Amex, with the closing of this acquisition bringing us one step closer to achieving this goal.”
GigOptix to supply chipset for use in 40G AOC applications
The advanced feature set of the HXT/R4 family enables customers to optimise the trade-off between power dissipation and performance of the optical link.
GigOptix, a supplier of high performance electronic and electro-optic components that enable next generation 40G and 100G optical networks, has announced that a Taiwanese optical engine manufacturer has entered production with GigOptix’s HXT/R4 chipset.
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