Silicon Motion Securityholders Approve Deal To Be Bought By MaxLinear

(RTTNews) - Silicon Motion Technology Corp. (SIMO), a Taiwanese provider of NAND flash controllers for solid state storage devices, announced that its shareholders, at its extraordinary general meeting, approved the previously announced merger agreement to be acquired by MaxLinear, Inc. (MXL).

Silicon Motion in May agreed to be acquired by MaxLinear in a cash and stock transaction that values Silicon Motion at $3.8 billion and the combined company at $8 billion.

MaxLinear is a provider of radio frequency or RF, analog and mixed-signal integrated circuits.

The agreement is subject to the terms and conditions. Silicon Motion shareholders also approved other proposals related to the transaction.

The company noted that the remaining requirements for closure of the transaction are customary closing conditions set forth in the Merger Agreement, including approval from the State Administration for Market Regulation or SAMR of the People's Republic of China.