MaxLinear Terminates Acquisition of Taiwan’s Silicon Motion

MaxLinear Inc., a maker of chips for broadband communications, said it terminated its attempt to acquire Silicon Motion Technology Corp., ending a cash-and-stock deal worth $3.8 billion.

The Carlsbad, California-based company said in a statement Wednesday that Taiwan-based Silicon Motion failed to complete some of the conditions of closing, suffered a “material adverse effect,” and is in breach of agreements.

The transaction, which would have been MaxLinear’s largest, was originally planned to close in the first half of this year.

Silicon Motion makes NAND flash controllers for solid-state storage devices. It also supplies data center and specialized industrial ...