MaxLinear Inc. (NYSE: MXL) is buying Exar Corp. (NYSE: EXAR), a developer of integrated circuits and signals for the infrastructure and communications industries, for approximately $700 million in all cash. The acquisition will help MaxLinear’s goal of increasing revenue scale, diversifying revenues by customers, and expanding the buyer’s analog and mixed-signal footprint.

Exar designs circuit chips and systems for power management, sensing and signal conditioning, data compression and security. The Fremont, California-based target serves the industrial, infrastructure, automotive, and audio and video markets. The transaction for Exar is expected to close in the second quarter of 2017.

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