Kishore Seendripu, Chief Executive of MaxLinear, in a 2012 photo from the International Consumer Electronics Show. — Eduardo Contreras

“As we close the deal, the revenue (from Entropic) has been better than expected and operating expenses more amenable to deliver the synergies that we had hoped for,” said MaxLinear Chief Executive Kishore Seendripu said in a conference call with analysts.

The two companies first announced the merger in February. San Diego-based Entropic makes chips that go into set top boxes, satellite TV systems and cable gateways. Its core technology powers whole-home DVR, where a show recorded in the living room can be watched on a TV in the upstairs bedroom via existing coaxial cable lines. It also can deliver high speed Wi-Fi to dead spots inside a home. But the company has struggled recently because of competition from larger rivals such as Broadcom.

MaxLinear hopes to cross-sell its products to Entropic customers and vice versa, as well as benefit from Entropic’s 1,500 radio frequency signal processing patents.

Under the terms of the merger, Entropic stockholders received $1.20 per share in cash and 0.22 shares of MaxLinear stock for each Entropic share. MaxLinear paid $111 million in cash and issued 20.4 million shares at Thursday’s closing price of $8.53 per share.

MaxLinear believes it can squeeze $20 million in annual savings out of the acquisition – in part through better deals from suppliers and the elimination of duplicate positions. Entropic had 280 workers worldwide. MaxLinear employs 350.

Last month, Entropic reported first quarter revenue of $48.7 million, down 13 percent from the same quarter the prior year. It lost $5.1 million, compared with a $23 million loss a year earlier.

MaxLinear on Thursday posted first quarter sales of $35.4 million, up 9 percent year over year. It lost $4.7 million, largely because of merger costs and severance pay to workers laid off in Asia.

MaxLinear’s shares ended trading on Monday up a penny at $9.04 on the New York Stock Exchange.