MaxLinear CEO Expects Intel Home Gateway Deal to Close This Quarter

MaxLinear’s connected home business generated 45% of Q2 revenue that grew 5% sequentially from Q1 to $65.2 million, said CEO Kishore Seendripu on a Thursday evening investor call. The company supplies broadband communications semiconductors. “We are benefiting from the demand for greater bandwidth at home in a transformative work-from-home environment that we believe is an emerging long-term trend,” said Seendripu. MaxLinear expects its $150 million all-cash buy of Intel’s home gateway business, announced April 6, will close this quarter, he said. The acquisition will more than double its total addressable market to $5 billion, he said. “The rapidly expanding work-from-home mandates due to COVID-19 are driving bandwidth upgrades, which will strongly benefit our core connected home business as well as our companion Intel connected home division acquisitions.”