GigOptix, Inc. (GGOX.OB) and Pangaea HK Ltd. Ink MOU to Form Joint Venture Targeting China Consumer Electronics Market
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. “We have a vision that optical interconnects will become essential to the next generation of consumer electronics products,” stated Richard Fung, CEO and President of Pangaea. “With this joint venture we plan to accelerate the creation of cost effective optical interconnect…