LOWELL, Mass., Sept. 20, 2012 (GLOBE NEWSWIRE) -- M/A-COM Technology Solutions Holdings, Inc. (Nasdaq:MTSI) ("M/A-COM Tech"), a leading supplier of high performance analog semiconductor solutions, today announced that the Santa Clara County Superior Court has denied a Renewed Motion for Preliminary Injunction sought by GigOptix, Inc. (NYSE MKT: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 to enjoy our full support."
"We believe that GigOptix's suit is a thinly-veiled attempt to derail our legitimate success in the Optoelectronics market," said Jihye Whang, VP and Chief Strategy Officer of M/A-COM Tech. "While the suit remains pending, we are pleased at this latest victory, will continue to defend ourselves vigorously against GigOptix's allegations, and remain focused on ramping production and serving our customers."
ABOUT M/A-COM TECHNOLOGY SOLUTIONS
M/A-COM Technology Solutions (www.macomtech.com) is a leading supplier of high performance analog semiconductor solutions for use in radio frequency (RF), microwave, and millimeter wave applications. Recognized for its broad portfolio of products, M/A-COM Tech serves diverse markets, including CATV, wireless infrastructure, optical communications, aerospace and defense, automotive, industrial, medical, and mobile devices. M/A-COM Tech builds on more than 60 years of experience designing and manufacturing innovative product solutions for customers worldwide.
Headquartered in Lowell, Massachusetts, M/A-COM Tech is certified to the ISO9001 international quality standard and ISO14001 environmental management standard. M/A-COM Tech has design centers and sales offices throughout North America, Europe, Asia and Australia.
M/A-COM, M/A-COM Technology Solutions, The First Name in Microwave and the M/A-COM logo are trademarks of M/A-COM Tech. All other trademarks are the property of their respective owners.
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SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements based on M/A-COM Tech management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include, among others, any statements concerning the outcome of the GigOptix lawsuit, which remains pending and cannot be accurately predicted at this time, as well as any statements concerning M/A-COM Tech's future plans in regard to the GigOptix lawsuit or otherwise. Forward-looking statements include all statements that are not historical facts and generally may be identified by terms such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "seeks," "should," "will," "would" or similar expressions and the negatives of those terms.
Forward-looking statements contained in this press release reflect M/A-COM Tech's current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those expressed in any forward-looking statement. Although M/A-COM Tech believes that the expectations reflected in the forward-looking statements are reasonable, it cannot and does not guarantee future events, results, actions, levels of activity, performance or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements, including, among others, any failure of M/A-COM Tech to prevail in the ultimate disposition of the GigOptix lawsuit and those factors described in "Risk Factors" in M/A-COM Tech's filings with the Securities and Exchange Commission (SEC), including its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2012 as filed with the SEC on August 7, 2012. M/A-COM Tech undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.