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.

MaxLinear is a provider of radio-frequency and mix-signal semiconductor products for the wire and wireless infrastructure sectors. The buyer’s cable products help drive gigabit internet, 4K ultra high-definition, and Internet protocol video network deployments. MaxLinear serves broadband communications, data centers, and metro and long-haul transport network applications across the globe.

The increase in mobile device use and functionality is driving consumer demand for faster data networks. Related deals within the technology sector include: Bregal Sagemount’s majority investment in Single Digits Inc., a high speed Internet access (HSIA) management provider; Oracle Corp.’s (NYSE: ORCL) purchase of internet performance service provider Dyn Inc.; GI Partners’ acquisition of data facility space Komo Plaza from real estate investment firm Hines Interests LP; and CommScope Holding Co. Inc.’s (Nasdaq: COMM) purchase of mobile broadband technology group Arivana LP.

Stifel Financial Corp. (NYSE: SF) is serving as financial adviser to MaxLinear, and Wilson Sonsini Goodrich & Rosati is acting as legal counsel. Cowen and Co. LLC is acting as financial adviser to Exar, while Pillsbury Winthrop Shaw Pittman LLP is serving as legal counsel. J.P. Morgan Chase Bank (NYSE: JPM) and Deutsche Bank Securities (NYSE: DB) are providing committed debt financing for the transaction.