MaxLinear Inc. agreed to acquire Intel Corp.'s Home Gateway Platform Division assets in an all-cash, asset transaction valued at $150 million.
The Home Gateway Platform Division comprises Wi-Fi Access Points, Ethernet and Home Gateway SoC products deployed across operator and retail markets.
MaxLinear, a provider of radio frequency, analog and mixed-signal integrated circuits, said the acquisition will complement its existing portfolio, as well as creating potential new revenue opportunities in adjacent target end-markets.
MaxLinear said expects initially to add about $60 million to $70 million in quarterly revenue and the acquisition is expected to boost its adjusted earnings in the first full quarter post close.
The company said the deal is expected to close in the third quarter of 2020. The transaction is not subject to financing contingencies.