Product category:
Programmable Logic Devices
News Release from: Lattice Semiconductor UK
Edited by the Electronicstalk Editorial
Team on 12 December 2001
Lattice acquires Agere's FPGA business
Lattice Semiconductor is to acquire the FPGA business of Agere Systems for $250 million in cash.
Lattice Semiconductor is to acquire the FPGA business of Agere Systems for $250 million in cash The acquisition will be financed through cash on hand
This article was originally published on Electronicstalk on 23 Mar 2001 at 8.00am (UK)
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Agere and Lattice anticipate closing the transaction in the first calendar quarter of 2002 subject to regulatory approval and other customary closing conditions.
The transaction is expected to be accretive to Lattice's calendar year 2002 proforma earnings before goodwill.
The transaction includes Agere's general-purpose Orca FPGA product portfolio, its field programmable system chip (FPSC) product portfolio and all related software design tools.
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FPSCs are advanced system oriented products which combine generic FPGA logic with embedded cores dedicated to the implementation of advanced communication protocols and high-speed input/output (I/O) functions.
As part of the transaction, approximately 100 Agere product development, marketing and technical sales employees will join Lattice.
Lattice will also acquire certain intellectual property cores and patents that are unique to Agere's FPGA business.
Additionally, the parties will enter into a crosslicense agreement whereby Lattice will receive rights to Agere patents and certain intellectual property for use in current and future FPGA and FPSC products and Agere will continue to have access to the Orca FPGA technology for incorporation into its "system-on-a-chip" integrated circuits.
"This acquisition provides Lattice with a unique opportunity to accelerate our previously announced intention to enter the FPGA market", stated Steven A.
Laub, president of Lattice.
"Agere's products are proven solutions that will complement our internal FPGA development effort.
Agere also offers a deeply experienced and talented team capable of extending the technology and building the product portfolio.
We are particularly attracted to the groundbreaking FPSC products which have strong design-in activity within key communication equipment OEM customers.
Currently unmatched in our industry, this FPSC portfolio will immediately provide Lattice an important means of differentiation in the FPGA market.
We look forward to leveraging our existing sales channels, global salesforce and broad customer base to accelerate the adoption of these leadership products", Laub concluded.
"This sale is one of a series of actions Agere is taking to better position our business for long-term profitable growth", said Sohail Khan, executive vice president of Agere's Infrastructure Systems Group.
"While FPGAs have been a strong business for us, we are redirecting our resources to areas where we can focus our skills on system-level integration for advanced communications applications.
The business is a strong strategic fit with Lattice and we look forward to working with them to ensure a smooth transition for our customers".
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