GCA Advises MaxLinear on Its Acquisition of Intel's Home Gateway Platform Division

We are pleased to announce that our client, MaxLinear, Inc. (“MaxLinear”) (NYSE:MXL), a leading provider of radio frequency, analog and mixed-signal integrated circuits for the connected home, wired and wireless infrastructure, and industrial and multimarket applications, together with one of its wholly owned subsidiaries, has entered into a definitive agreement with Intel Corporation (“Intel”) (NASDAQ:INTC) to acquire Intel’s Home Gateway Platform Division (“HGPD”) in an all-cash, asset transaction valued at $150 million.

Intel's Home Gateway Platform Division’s product portfolio includes Wi-Fi Access Points, Ethernet and Home Gateway SoC products, which are deployed across operator and retail markets. HGPD is highly complementary to 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 new revenue opportunities in adjacent target end-markets. HGPD adds significant scale to MaxLinear’s business and enables MaxLinear to provide a compelling Wi-Fi product offering with tremendous growth opportunities inside and outside of the company’s Connected Home segment, including expanding the portfolio to include IoT solutions. MaxLinear expects to add $60 million to $70 million in quarterly revenue, and the acquisition is expected to be accretive to MaxLinear’s non-GAAP operating profit, in the first full quarter after the transaction closes.

The transaction is expected to close in the third quarter of 2020, subject to customary closing conditions, including regulatory approvals. The transaction is not subject to financing contingencies.

GCA is serving as exclusive financial advisor to MaxLinear in connection with this transaction.