- MaxLinear, Inc (NASDAQ:MXL) has agreed to acquire fellow chipmaker Silicon Motion Technology Corporation (NASDAQ:SIMO) for $114.34 per ADS in cash and stock.
- The price represents a 48% premium to the undisturbed market value as of April 22, 2022, in cash and stock transaction, valuing Silicon Motion at $3.8 billion.
- Silicon Motion makes NAND flash controllers for solid-state storage devices. It also supplies data centers and specialized industrial and automotive solid-state drives. The company reported a net income of $60.6 million for the December 31 quarter, up 9.4% sequentially.
- Taiwan-based Media Tek Inc (OTC:MDTKF) was also interested in bidding for Silicon Motion, Bloomberg reports.
- Silicon Motion has been working with advisers and holding talks with potential suitors amid takeover interest.
- Price Action: SIMO shares traded higher by 19.60% at $97.15 in the premarket on the last check Thursday.
