Forms Global Leader in Smart Connectivity Solutions.
Lattice Semiconductor Corporation (NASDAQ:LSCC), a leading provider of
programmable connectivity solutions, has completed acquisition of
Silicon Image, Inc., a leading provider of wired and wireless
For the first time in the semiconductor industry, a single company now combines the design flexibility and time to market benefits of FPGAs, with the highly integrated, function and cost optimization benefits of ASSPs. The all-cash acquisition, valued at approximately $606.6 million (or approximately $466.6 million on an enterprise value basis), is expected to be immediately accretive to EPS on a non-GAAP basis.
Darin G. Billerbeck, Lattice Semiconductor’s President and Chief Executive Officer, said, “Today marks an exciting day for Lattice, as we close our transformative acquisition of Silicon Image. We have significantly expanded our Company’s capabilities, with the addition of MHL, HDMI and 60 GHz Intellectual Property, enhanced our business prospects and financial profile, and further diversified our global customer base. We will move forward quickly in order to realize the compelling revenue and operating synergies created by our increased economies of scale. Our team has put in place a well thought through, comprehensive consolidation plan for an efficient integration and the achievement of our targeted cost synergies. We plan to work relentlessly over the coming years to rapidly deleverage through our increased free cash flow, and to achieve the full benefits of this major acquisition for our customers, shareholders and employees.”
For more information on how we can support your design with Smart Connectivity Solutions, please contact Allyanz.