Also boosts guidance that deal will pull in revenues of $80-$90 million in first full quarter post close versus original guidance of $60-$70 million.
August 3, 2020
CARLSBAD, Calif. – MaxLinear, Inc. (NYSE: MXL), a leading provider of radio frequency (RF), analog and mixed-signal integrated circuits for the connected home, wired and wireless infrastructure, and industrial and multimarket applications, announced today that it has completed the acquisition of Intel's Home Gateway Platform Division, announced on April 6, 2020, in an all cash, asset transaction valued at $150 million. MaxLinear funded the acquisition with proceeds from a $175 million term loan A facility, which was upsized from $140 million initially announced.
The acquisition enables MaxLinear to strengthen its existing connected home portfolio by bringing together a complete, scalable, complementary platform of connectivity and access solutions to address its customers' needs across target end-markets. As an update to the original expectation, based on the improving strength in the business, MaxLinear now expects to initially add approximately $80 million to $90 million in quarterly revenue from the acquisition, in the first full quarter post close. The acquisition is expected to be accretive to MaxLinear's non-GAAP earnings.
Read the full announcement here.
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