MACOM and GigOptix Announce Final Settlement of All Pending Suits Between Them

M/A-COM Technology Solutions Holdings, Inc. (MTSI) ("MACOM"), a leading supplier of high performance RF, microwave, and millimeter wave products, and GigOptix, Inc. (NYSE MKT:GIG) ("GigOptix"), a leading supplier of advanced semiconductor and optical communications components, today announced that they have agreed to a global settlement of all pending lawsuits between them.

These include: (1) the state court case filed by GigOptix against MACOM subsidiary Optomai, Inc., three former employees of GigOptix who founded Optomai, Vivek Rajgarhia, Vikas Manan and Stefano D'Agostino, and MACOM, in Santa Clara County, for alleged misappropriation of trade secrets and breach of contract, and (2) the federal court case filed by MACOM against GigOptix in the Northern District of California, for alleged patent infringement.

II-VI Incorporated Announces Acquisition of Oclaro, Inc.'s Switzerland-Based Semiconductor Laser Business; Expands Credit Facility

II-VI Incorporated (IIVI) announced today that it has acquired the Zurich, Switzerland-based semiconductor laser business (the "Business") of Oclaro, Inc. (OCLR) in a transaction valued at $115 million.

The acquisition provides II-VI with semiconductor laser technology used in industry-leading laser system products including fiber lasers and direct diode lasers for material processing, medical, consumer and fiber optic communication applications. The gallium arsenide semiconductor laser business was originated by IBM Zurich and was integrated with the gallium arsenide semiconductor laser assets in Tucson, Arizona acquired from Newport Spectra-Physics in 2009. II-VI will operate the Business as II-VI Laser Enterprise GmbH.

Eltek Secures a $4.2 Million Investment from Nistec Ltd.

- Eltek will sell 3,532,655 ordinary shares to Nistec for $4.2 million
- Nistec will also purchase all of the shares held by Eltek's majority holder, Mr. Yossi Maiman, and Nistec will become Eltek's majority shareholder (50.5%)

Eltek Ltd., (ELTK), the leading Israeli manufacturer of advanced Flex-Rigid circuitry solutions, announced today that it has entered into a $4.2 million investment agreement with Nistec Ltd. ("Nistec"), a leading provider of Electronic Manufacturing Services ("EMS") and design services, to sell Nistec 3,532,655 ordinary shares at $1.19 per share. 

Nistec will also acquire all of the holdings of Eltek's major shareholder, Mr. Yossi Maiman (24.1%), for $2.3 million, or $1.45 per share. Upon completion of the transactions, Nistec will hold the majority of Eltek's issued share capital (50.5%).   

Pixelworks Reports Second Quarter 2013 Financial Results

Pixelworks, Inc. (PXLW), a pioneer in innovative video and display processing technology, today announced financial results for the second quarter ended June 30, 2013.

Second quarter 2013 revenue was up 15.5% to $9.6 million, compared to $8.3 million reported in the prior quarter and $15.5 million in the second quarter of 2012. The sequential increase in revenue was due to increased sales of chips for both Projectors and TVs. Revenue declined compared to the prior year quarter primarily as the result of lower licensing revenue during the second quarter.