Passave files for IPO

August 25, 2005 Santa Clara, CA -- Passave announced today that it has filed a registration statement with the United States Securities and Exchange Commission for the initial public offering of its common stock.

Merrill Lynch & Co. will act as the sole bookrunning manager for the offering with JPMorgan acting as joint lead-manager. CIBC World Markets and Jefferies Broadview will act as co-managers.

Passave is a supplier of FTTH semiconductors for broadband access networks. The company's products provide bandwidth and feature sets to enable delivery of integrated data, video, and voice services over passive optical networks (PONs). The company's GigaPASS system-on-chip products are open-source software platforms with hardware features that enable system OEMs to differentiate products by developing custom features.

The company maintains offices in Santa Clara, California, Herzliya, Israel, and Tokyo, Japan, with customer support teams in China and Korea.