Maxlinear News
2 articles
growth-negative
Intel sells division with 200-300 Israeli employees
Intel is selling its Home Gateway Platform Division to MaxLinear for $150 million. The division produces Wi-Fi Access Points, Ethernet, and Home Gateway SoC products. The sale is part of Intels focus on its core business. MaxLinear expects the acquisition to add $60-70 million to its quarterly revenue. The transaction is expected to close in the third quarter of 2020. The division employs an estimated 1,000 people, with 200-300 in Israel. MaxLinear closed its development center in Herzliya eighteen months ago. Intels fabs continue to work. MaxLinears market cap rose to over $1 billion after a 31.53% increase in its share price. The company had a market cap of $800 million before the increase.
AcquisitionLayoffs
growth-negative
Maxlinear closing down Israel development center
Maxlinear, a US communications components company, has closed down its development center in Herzliya, Israel and laid off all but five of its employees. This downsizing is part of the companys activity reduction in Israel over the past two years. Maxlinear acquired Israeli startup Provigent from Broadcom in 2016 for $88 million. Provigent, which developed wireless broadband communications chips, had 150 employees at the time of acquisition. Maxlinear laid off 70 of Provigents employees and kept 50 as employees of its development center in Israel. The remaining 25 employees were laid off recently, leaving only five employees who will continue working for Maxlinear at WeWork.
Layoffs
