GigOptix, Inc. and Pangaea (HK) Ltd. of Hong Kong today announced that they have signed a memorandum of understanding (MOU) to form a joint venture company in China. The proposed organization would be headquartered in Hong Kong and focused on supporting customers in the region with the development of low cost and customized reference designs for GigOptix, Inc. products.
â€œWe have a vision that optical interconnects will become essential to the next generation of consumer electronics products,â€ stated Richard Fung, CEO and President of Pangaea. â€œWith this joint venture we plan to accelerate the creation of cost effective optical interconnect designs to support our customers in making the switch from copper and to realize the power and performance advantages optical can offer. Itâ€™s an exciting opportunity to bring better support to the region.â€
â€œWe believe that through this joint venture we will provide a greater support for customers in China, which is paramount to the adoption of our devices in the optical interconnect market. Our goal is to enable our customers to bring attractive products to the market quickly,â€ commented Dr. Avi Katz, Chairman and CEO of GigOptix, Inc. â€œWe have fostered an excellent working relationship with Pangaea over some time through our common vision and spirit and we look forward to a fruitful collaboration.â€