GigOptix, a supplier of semiconductor and optical components that enable high speed information streaming, has completed the acquisition of Endwave (News - Alert) Corporation, a full-service transmit/receive designer and manufacturer.

The stockholders approved the acquisition of Endwave by GigOptix. Holders of more than 55 percent of the outstanding Endwave shares, or more than 98 percent of the shares represented at the meeting, voted in favor of the acquisition.

All outstanding shares of Endwave common stock will be converted into shares of GigOptix common stock at a conversion ratio of 0.908, under the terms of the acquisition.

“The Endwave acquisition is an exciting step towards fulfilling our long-term vision of building the industry's premier one-stop-shop supplier of analog and optical components that enable high speed information streaming,” said Avi Katz, chief executive officer and chairman of the Board, GigOptix, in a statement.

“We welcome our new colleagues from Endwave and look forward to continuing on our mission to address customers’ expanding needs for innovative high speed data communications solutions as well as simplifying our customers’ supply chains,” Katz added.

The combined technology capabilities of GigOptix and Endwave will benefit customers, employees and stockholders.  

As part of the acquisition, GigOptix already initiated in-house activities in preparation for the physical and operational integration process.

GigOptix is planning changes in its top leadership structure. The horizontal functional organizations will be led by three executives, which will be supported by three general manager executives each leading specific vertical product lines.

The new structure is expected to assist in streamlining collaboration within GigOptix. The company is expecting that the reshuffling will be enabling the expansion of GigOptix’s business and product portfolio to better position GigOptix for future growth.

Recently, GigOptix announced a $750,000 purchase order for its 100G quad. A tier 1 telecom customer has placed an order for GigOptix’s 100G quad-drivers with its 100G Dense Wavelength Division Multiplexing (DWDM) networking systems for a sum of $750,000.

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Rajani Baburajan is a contributing editor for TMCnet. To read more of Rajani's articles, please visit her columnist page.

Edited by Carrie Schmelkin