February 22, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of GigPeak Inc (NYSEMKT:GIG), was announced concerning whether the takeover of GigPeak Inc., formerly GigOptix, Inc, by Integrated Device Technology, Inc. for $3.08 per share is unfair to NYSEMKT:GIG stockholders.

The investigation by a law firm concerns whether certain officers and directors of GigPeak Inc breached their fiduciary duties owed to NYSEMKT:GIG investors in connection with the proposed acquisition.

On February 13, 2017, Integrated Device Technology, Inc. (NASDAQ:IDTI) and GigPeak Inc (NYSEMKT: GIG) announced that they have signed an agreement for Integrated Device Technology, Inc to acquire GigPeak, Inc., for total cash consideration of $3.08 per share, or approximately $250 million in cash.

However, given that at least one analyst has set the high target price for NYSEMKT: GIG shares at $3.50 per share and given that NYSEMKT: GIG shares traded in 2015 as high as $3.20 per share, the investigation concerns whether the offer is unfair to NYSEMKT:GIG stockholders. More specifically, the investigation concerns whether the GigPeak Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

GigPeak Inc reported that its annual Total Revenue rose from $32.95 million in 2014 to $58.74 million in 2016 and that its Net Loss of $5.82 million in 2014 turned into a Net Income of $2.23 million n 2016.

On February 22, 2017, NYSEMKT:GIG shares closed at $3.06 per share.