Exhibit 99.1
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Silicon Motion Categorically Rejected
MaxLinears Purported Termination of the
Merger Agreement, and the Assertions Made
by MaxLinear, in its Letter of July 26, 2023 |
TAIPEI, Taiwan and MILPITAS, Calif., August 7, 2023Silicon Motion Technology Corporation
(NASDAQGS: SIMO) (Silicon Motion) today issued a written notice to MaxLinear, Inc. (NASDAQGS: MXL) (MaxLinear), in which Silicon Motion categorically rejected MaxLinears purported termination of the Merger Agreement,
and the assertions made by MaxLinear, in its letter of July 26, 2023. Silicon Motion will vigorously pursue its remedies, and reserves all rights under the Agreement and otherwise, including but not limited to the right to hold MaxLinear liable
for substantial damages.
A copy of Silicon Motions notice to MaxLinear is attached as Annex A to this press release.
About Silicon Motion
Silicon Motion is the global leader
in supplying NAND flash controllers for solid state storage devices. Silicon Motion supplies more SSD controllers than any other company in the world for servers, PCs and other client devices and is the leading merchant supplier of eMMC and UFS
embedded storage controllers used in smartphones, IoT devices and other applications. Silicon Motion also supplies customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions. Silicon Motions
customers include most of the NAND flash vendors, storage device module makers and leading OEMs. For further information on Silicon Motion, visit www.siliconmotion.com.
Cautionary Statement Regarding Forward-Looking Statements:
Information provided in this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Silicon Motions current expectations, estimates and projections about the expected date of closing of the
Merger and the potential benefits thereof, its business and industry, managements beliefs and certain assumptions made by Silicon Motion, all of which are subject to change. The forward-looking statements include, but are not limited to,
statements about the expected timing of the Merger, the satisfaction or waiver of any conditions to the proposed Merger and other events relating to the proposed Merger, and in some cases, you can identify forward-looking statements by terminology
such as may, will, should, expect, intend, plan, anticipate, believe, estimate, predict, potential,
potentially, continue, could, seek, see, would, might, continue, target or the negatives of these terms or other comparable terminology that
convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control, and are not guarantees of future results. These and other
forward-looking statements are not guarantees of future results and are subject to risks,
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