Silicon Motion Files Notice of Arbitration Claim Vs. MaxLinear

Silicon Motion Technology Corporation commenced an arbitration vs. MaxLinear, Inc. for breaching its May 5, 2022 agreement to acquire the company (the merger agreement).

The claim was filed in the Singapore International Arbitration Centre (SIAC), as provided under the merger agreement.

In the arbitration, the company seeks payment of the termination fee of $160 million, further substantial damages, interest and costs.

It has nominated an arbitrator. Each party is entitled to nominate one arbitrator and the party-nominated arbitrators will jointly nominate a 3rd arbitrator (or, if they fail to do so, the third arbitrator will be appointed by the SIAC).

Under the SIAC Arbitration Rules, all matters relating to the proceedings are confidential.