GSI Technology, Inc. Receives Unsolicited Acquisition Proposal Of $6.50 Per Share

GSI Technology, Inc.

today announced that it has received from GigOptix, Inc. an unsolicited, non-binding and conditional proposal to acquire the company for per share consideration of $6.50 per share consisting of a combination of cash and GigOptix common stock. GSI Technology's Board of Directors will promptly and carefully review and consider the GigOptix proposal consistent with its fiduciary duties and in consultation with its financial and legal advisors. Following its review, the GSI Technology Board will respond to the proposal and advise its stockholders of the Board's response.