Lattice Semiconductor has announced its acquisition by Canyon Bridge Capital Partners for USD 1.3 billion, or USD 8.30 per share in cash. The deal includes Lattice’s net debt and represents a 30 percent premium to its share price on 2 November, the last trading day before the announcement. Lattice CEO Darin Billerbeck said the company will continue to operate as standalone company following completion, with an enhanced focus on core strategies. The company will remain at its headquarters in Portland, Oregon, with its current team, and work as a subsidiary of Canyon Bridge.
The transaction has been unanimously approved by the board of directors at both companies and is expected to close early next year subject to customary closing conditions, regulatory approvals and approval by Lattice shareholders.
