Taipei, Sept. 1, (dpa/GNA) - Shareholders of Silicon Motion Technology Corp, a memory chipmaker from Taiwan, have approved a merger agreement with a US hardware company.
Silicon Motion, a provider of NAND flash controllers for solid state storage devices, announced that shareholders at an extraordinary general meeting approved the previously announced merger agreement to be acquired by MaxLinear Inc.
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 relevant authorities.
GNA