Exhibit 99.1
Silicon Motion Files Notice of Arbitration Claim
Against MaxLinear
TAIPEI, Taiwan and MILPITAS, Calif., October 5, 2023 Silicon Motion Technology Corporation (NASDAQGS: SIMO) (Silicon Motion or
the Company), a global leader in designing and marketing NAND flash controllers for solid state storage devices, today commenced an arbitration against MaxLinear, Inc. for breaching its May 5, 2022 agreement to acquire the Company
(the Merger Agreement).
The claim was filed in the Singapore International Arbitration Centre (SIAC), as provided under the
Merger Agreement. In the arbitration, the Company seeks payment of the termination fee of $160 million, further substantial damages, interest and costs. The Company has nominated an arbitrator. Each party is entitled to nominate one arbitrator
and the party-nominated arbitrators will jointly nominate a third arbitrator (or, if they fail to do so, the third arbitrator will be appointed by the SIAC).
Under the SIAC Arbitration Rules, all matters relating to the proceedings are confidential.
About Silicon Motion
Silicon Motion is the global leader
in supplying NAND flash controllers for solid state storage devices. Silicon Motion supplies more SSD controllers than any other company in the world for servers, PCs and other client devices and is the leading merchant supplier of eMMC and UFS
embedded storage controllers used in smartphones, IoT devices and other applications. Silicon Motion also supplies customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions. Silicon Motions
customers include most of the NAND flash vendors, storage device module makers and leading OEMs. For further information on Silicon Motion, visit www.siliconmotion.com.
FORWARD-LOOKING STATEMENTS:
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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. In some cases, you can identify forward-looking
statements by terminology such as may, will, should, expect, intend, plan, anticipate, believe, estimate, predict,
potential, continue, or the negative of these terms or other comparable terminology. Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place
undue reliance on them. These statements involve risks and uncertainties, and actual market trends or our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these
forward-looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to the unpredictable volume and timing of customer orders, which are not fixed by contract but vary on a purchase order basis; the
loss of one or more key customers or the significant reduction, postponement, rescheduling or cancellation of orders from one or more