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TheStreet Open House

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.

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