SANTA CLARA, Calif.--(BUSINESS WIRE)--Nov. 10, 2009-- GSI Technology, Inc. (Nasdaq: GSIT), a leading provider of high performance static random access memory, or SRAM, products incorporated primarily in networking and telecommunications equipment, has acquired a 44,277 sq. foot (4,113 sq. meter) office building and associated grounds at 1213 Elko Drive, in Sunnyvale, California. GSI intends to use the property as a new corporate headquarters. The facility will also house U.S. development and production operations.

"This purchase is the second major investment GSI has made this year,” said Lee-Lean Shu, President and CEO of GSI Technology. "Our continuing strong performance through this year's downturn has allowed us to invest in our future at very favorable terms. We are stronger than ever and ready to take full advantage of the growth opportunities that present themselves as the economy recovers." In August, GSI announced that it had acquired substantially all of the assets related to Sony’s SRAMproduct line.

The work to prepare the building for occupancy is already under way and the Company anticipates moving into the new facility in the first half of 2010. When occupied, the facility will contain offices, labs, engineering and production test floors, warehouse space and will still have room left for substantial future growth.

About GSI Technology

Founded in 1995, GSI Technology, Inc. is a leading provider of high performance static random access memory, or SRAM, products incorporated primarily in networking and telecommunications equipment. Headquartered in Santa Clara, California, GSI Technology is ISO 9001 certified and has worldwide factory and sales locations. For more information, please visit www.gsitechnology.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements included in this press release are based upon information available to GSI Technology as of the date hereof, and GSI Technology assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a variety of risks and uncertainties, which could cause actual results to differ materially from those projected. These risks include those associated with potential difficulties that may be encountered in integrating the acquired product line and realizing the potential benefits of the acquisition; potential volatility in future earnings as a result of purchase accounting adjustments; fluctuations in GSI Technology’s operating results; GSI Technology’s historical dependence on sales to a limited number of customers and fluctuations in the mix of customers and products in any period; the rapidly evolving markets for GSI Technology’s products and uncertainty regarding the development of these markets; the need to develop and introduce new products to offset the historical decline in the average unit selling price of GSI Technology’s products; the cyclical nature of the semiconductor industry and the SRAM market and related challenges of rapid growth followed by periods of contraction; and intensive competition. Further information regarding these and other risks relating to GSI Technology’s business is contained in the company’s filings with the Securities and Exchange Commission, including those factors discussed under the caption “Risk Factors” in such filings.

Source: GSI Technology, Inc.

GSI Technology, Inc.
Douglas M. Schirle
Chief Financial Officer
408-980-8388
or
Silverman Heller Associates
Philip Bourdillon/Gene Heller
310-208-2550