MaxLinear, Inc. Completes Acquisition of G.hn Home Networking and Access Business from Marvell Technology Group Ltd.
April 05 2017 - 8:00AM
MaxLinear, Inc. (NYSE:MXL), a leading provider of integrated
radio frequency and mixed-signal integrated circuits for the
connected home and wired and wireless infrastructure markets, today
announced that it has completed its previously announced
acquisition of a Marvell Technology Group Ltd. research and
development subsidiary in Spain, as well as certain other assets
and liabilities related to Marvell’s G.hn business, for $21.0
million in cash.
Management Commentary
“With today’s announcement of the completed
acquisition of Marvell’s home networking and access business, we
are excited by the progression of our stated goal of expanding our
footprint in our existing broadband operator markets. The
addition of this world class G.hn technology, combined with our
MoCA connectivity portfolio, positions MaxLinear as the undisputed
technology leader in the wired whole-home broadband connectivity
market, be it coaxial cable, power line, or twisted pair. This
acquisition should enable us to bring new levels of cost and power
efficiency and greater overall value to our broadband operator
partners, while expanding MaxLinear’s connectivity addressable
market in a manner consistent with our stated long-term strategy,”
commented Kishore Seendripu, Ph.D., Chairman and CEO.
About MaxLinear, Inc.
MaxLinear is a leading provider of
radio-frequency and mixed-signal semiconductor solutions for the
connected home and wired and wireless infrastructure
markets. MaxLinear is headquartered in Carlsbad,
California. For more information please visit
www.MaxLinear.com.
MXL is MaxLinear’s registered trademark. Other
trademarks appearing herein are the property of their respective
owners.
Cautionary Note Concerning Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements
include, among others, statements concerning the potential impact
of our acquisition of Marvell Technology Group Ltd.’s G.hn Home
Networking and Access business, including its potential impact on
our target markets and MaxLinear’s relative position within those
markets. These forward-looking statements involve known and unknown
risks, uncertainties, and other factors that may cause actual
results to be materially different from any future results
expressed or implied by the forward-looking statements.
Forward-looking statements are based on management’s current,
preliminary expectations and are subject to various risks and
uncertainties. The definitive agreement and closing announced today
of home networking and access assets from Marvell presents
particular risks associated with our ability to integrate the
acquired business and maintain relationships with employees,
customers, and vendors. In addition, our current expectations
with respect to the size of the available market and growth
opportunities in future years are subject to substantial management
assumptions that are themselves subject to material risks and
uncertainties. Additional risks and uncertainties that
could affect our assumptions and expectations with respect to the
acquisition that also generally affect our business, operating
results, financial condition, and stock price, include, intense
competition in our industry; our dependence on a limited number of
customers for a substantial portion of our revenues; uncertainties
concerning how end user markets for our products will develop;
potential uncertainties arising from continued consolidation among
cable television and satellite operators in our target markets and
continued consolidation among competitors within the semiconductor
industry generally; our ability to develop and introduce new and
enhanced products on a timely basis and achieve market acceptance
of those products, particularly as we seek to expand outside of our
historic markets; the success of our recently completed and
proposed acquisitions; potential decreases in average selling
prices for our products; risks relating to intellectual property
protection and the prevalence of intellectual property litigation
in our industry; our reliance on a limited number of third party
manufacturers; and our lack of long-term supply contracts and
dependence on limited sources of supply. In addition to these risks
and uncertainties, investors should review the risks and
uncertainties contained in our filings with the Securities and
Exchange Commission (SEC), including those set forth in our most
recent Annual Report on Form 10-K for the year ended December 31,
2016 and subsequent Current Reports on Form 8-K. All
forward-looking statements are based on estimates, projections and
assumptions of management as of the date of this press release, and
MaxLinear is under no obligation (and expressly disclaims any such
obligation) to update or revise any forward-looking statements
whether as a result of new information, future events, or
otherwise.
MaxLinear, Inc. Investor Relations Contact:
Gideon Massey
Investor Relations Specialist
Tel: 949-333-0056
gmassey@maxlinear.com
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