GigOptix, Inc. (NYSE MKT:GIG) (“GigOptix”), a leading fabless supplier of semiconductor and optical components that enable high speed information streaming, announced today the preliminary results of its modified Dutch auction tender offer, which expired at 11:59 p.m., New York City time, on Tuesday, May 15, 2012. Based on the preliminary count by American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, a total of 1,707,712 shares of GigOptix’s common stock were properly tendered and not properly withdrawn at or below the purchase price of $2.85 per share. In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, GigOptix expects to acquire approximately 701,754 shares of its common stock at a price of $2.85 per share, for an aggregate cost of approximately $2.0 million, excluding fees and expenses relating to the tender offer. These shares represent approximately 3.25% percent of the shares of common stock outstanding as of March 27, 2012, the last trading day before commencement of the tender offer. Due to the oversubscription of the tender offer, GigOptix expects to accept for purchase approximately 41% of the shares properly tendered and not properly withdrawn at or below the purchase price of $2.85 per share by each tendering stockholder (other than “odd lot” holders whose shares will be purchased on a priority basis). The number of shares to be purchased, the purchase price and the proration information are preliminary and subject to change. The preliminary information contained in this press release is subject to confirmation by the depositary and is based on the assumption that all shares tendered through notices of guaranteed delivery will be delivered within the three trading day settlement period. The final number of shares to be purchased, the final purchase price and the final proration information will be announced following the expiration of the guaranteed delivery period and completion by the depositary of the confirmation process. Payment for the shares accepted for purchase under the tender offer, and return of all other shares tendered and not purchased, will occur promptly thereafter.