Market Overview

M/A-COM Tech and Optomai Announce Favorable Court Ruling in GigOptix Case

Related MTSI
With The Mobile Industry Upgrading To 5G, Buy Cavium
Wall Street's M&A Chatter From November 21

M/A-COM Technology Solutions (NASDAQ: MTSI) today announced that the Santa Clara County Superior Court has denied a Renewed Motion for Preliminary Injunction sought by GigOptix (NYSE: GIG) against M/A-COM Tech, its subsidiary Optomai, Inc. and individual defendants formerly employed by GigOptix and currently working for M/A-COM Tech.

This decision marks the second time that the Court has denied such a motion by GigOptix, this time following extensive forensic and documentary discovery by the parties and presentation of related arguments and expert testimony to the Court in a hearing on GigOptix's motion held on September 13, 2012. GigOptix originally filed suit in April 2011, concurrently with M/A-COM Tech's announcement of its acquisition of Optomai. In July 2011, GigOptix sought a temporary restraining order and thereafter an injunction, both of which were denied by the Court.

"We are very pleased that the Court ruled on the motion decisively and in our favor," said Chuck Bland, Chief Executive Officer of M/A-COM Tech. "The Optomai team continues to deliver market leading products for the benefit of our customers, and our Optoelectronics product line continues

See full press release

Posted-In: News Guidance Management


Related Articles (MTSI + GIG)

View Comments and Join the Discussion!