MaxLinear, an American hardware company, agreed to acquire Silicon Motion, an American -Taiwanese company involved in developing NAND flash controller integrated circuits for solid-state storage devices, for $3.8bn. "For 20 years, we have built Silicon Motion with a commitment to advancing innovation, partnering with all of our valued customers and supporting our colleagues around the world. Combining Silicon Motion with MaxLinear creates significant economies of scale, accelerates our expansion into enterprise storage markets and unites unparalleled intellectual property to continue serving our customers with high-quality expertise and technical support. This transaction will deliver compelling value for shareholders, position our company to achieve our growth objectives and advance our position in high-growth storage end markets. We are very excited to partner with the MaxLinear team to take the combined company to the next level," Wallace Kou, Silicon Motion President and CEO. On August 31, 2022, Silicon Motion approves a $3.8bn deal with MaxLinear.