© Intel Business | April 07, 2020
MaxLinear to acquire Intel division
MaxLinear, along side its subsidiary, have entered into a definitive agreement with Intel Corporation under which MaxLinear would, subject to customary closing conditions, acquire Intel’s Home Gateway Platform Division for USD 150 million.
The Home Gateway Platform Division comprises Wi-Fi Access Points, Ethernet and Home Gateway SoC products deployed across operator and retail markets. The acquisition will add to and complement MaxLinear’s existing portfolio, bringing together a complete and scalable platform of connectivity and access solutions for its customers across target end-markets, as well as creating potential new revenue opportunities in adjacent target end-markets. MaxLinear expects initially to add approximately USD 60 million to USD 70 million in quarterly revenue, and the acquisition is expected to be accretive to MaxLinear’s non-GAAP earnings, in the first full quarter once completed. The transaction is expected to close in the third quarter of 2020, subject to customary closing conditions, including regulatory approvals. “MaxLinear is excited by the strong potential for growth and the ability to enhance our value proposition to our existing customers with the addition of the Intel Home Gateway Platform Division, which includes its Wi-Fi Access Point assets, Ethernet, and Home Gateway SoC products,” says Kishore Seendripu, CEO of MaxLinear, in a press release. “These assets add significant scale to our entire business while enabling us to provide a compelling WiFi product offering with tremendous growth opportunities inside and outside of the Connected Home, including expanding the portfolio to include IoT solutions.”
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