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MaxLinear Comments on Previously Terminated Transaction with Silicon Motion
CARLSBAD, Calif.--(BUSINESS WIRE)-- MaxLinear, Inc. (Nasdaq: MXL), a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated
About this update from Maxlinear, Inc
[{"type":"text","content":" CARLSBAD, Calif.--(BUSINESS WIRE)--\nMaxLinear, Inc. (Nasdaq: MXL), a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits, commented on the recent announcement from Silicon Motion (Nasdaq: SIMO) regarding MaxLinear’s July 26, 2023 termination of the parties’ merger agreement (the “Merger Agreement” or “Agreement”).\n\n\nAs previously disclosed, MaxLinear terminated the Merger Agreement on multiple grounds, including that Silicon Motion has experienced a material adverse effect and multiple additional contractual failures, all of which is clearly supported by the indisputable factual record. MaxLinear remains entirely confident in its decision to terminate the Agreement.\n\n\nOn August 16, 2023, Silicon Motion confirmed that the Merger Agreement is terminated and announced its intention to pursue monetary damages from MaxLinear in the Singapore International Arbitration Centre. MaxLinear believes any such action is without merit and will vigorously defend its right to terminate the Silicon Motion transaction without penalty in arbitration.\n\n\nAbout MaxLinear, Inc.\n\n\nMaxLinear, Inc. (Nasdaq: MXL) is a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits for access and connectivity, wired and wireless infrastructure, and industrial and multi-market applications. MaxLinear is headquartered in Carlsbad, California. For more information, please visit www.maxlinear.com.\n\n\nMXL is MaxLinear’s registered trademark. Other trademarks appearing herein are the property of their respective owners.\n\n\nCautionary Note Concerning Forward-Looking Statements\n\n\nThis release contains forward-looking statements relating to MaxLinear’s future plans, objectives, beliefs, expectations, representations, and projections, including but not limited to statements relating to the terminated merger with Silicon Motion and any arbitration or other dispute related to the same, that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements are subject to various risks and uncertainties and are not guarantees of future performance. Forward-looking statements represent MaxLinear’s management’s beliefs and assumptions only as of the date such statements are made, and while MaxLinear b...