New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 9, 2013
16:38 EDTGIGGigOptix reduces global workforce by 10% and reduces salaries
GigOptix has taken actions which became effective today to adjust overall spending. These actions include reducing the company’s global workforce by about 10%, primarily in the company’s support and administrative functions, and company-wide salary reductions ranging between 5%-25% based on an individual’s salary level. These actions are expected to result in approximately $450K of quarterly cost savings once the plan is fully implemented.
News For GIG From The Last 14 Days
Check below for free stories on GIG the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 18, 2014
09:11 EDTGIGGigOptix says still seeks to engage in discussions with GSI Technology
Subscribe for More Information
September 9, 2014
09:06 EDTGIGGigOptix says 'disappointed' in GSI Technology board acquisition rejection
GigOptix (GIG) announced that it had sent the following letter to the GSI Technology board of directors in response to the announcement by GSI Technology (GSIT) that its board of directors has rejected GigOptix’ previously announced proposal to acquire GSI Technology. The company said, "I am in receipt of Mr. Shu’s letter dated September 8. We are disappointed that GSI Technology’s Board of Directors, without even engaging in a discussion with us, has rejected our acquisition proposal and chosen to deny its stockholders the opportunity to achieve a substantial premium and immediate liquidity for their shares. We are confident that moving forward promptly to consummate a transaction is in the best interests of all parties. We believe we are offering GSI Technology’s stockholders superior value and the opportunity to participate in the upside of the combined company, which we believe is a better outcome than GSI Technology remaining an independent company as you have proposed in your letter. As we have previously stated, the combination should offer an increasingly exciting set of solutions for customers, providing an offering of both your high performance memory products for networking and telecommunications equipment and our high speed communications components. Together, this would allow us to strengthen the value proposition that we collectively provide to our customers through a wider range of companion and complementary products and more effectively challenge our respective competitors in the marketplace. We and our advisors stand ready at any time to meet and review our offer directly with you."

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use