Wednesday, January 28, 2015

Lattice Semi to Acquire Silicon Image for $600 Million

Lattice Semiconductor agreed to acquire Silicon Image in an all-cash tender offer of $7.30 per share, representing an equity value of approximately $600 million (or approximately $450 million on an enterprise value basis).

Silicon Image, which is based in Sunnyvale, California, led the creation of the HDMI, DVI and MHL standards, and is a driving force behind the WirelessHD standard. In addition, Silicon Image offers manufacturers comprehensive standards interoperability and compliance testing services via its wholly-owned subsidiary, Simplay Labs. The company holds over 500 patents and has some 600 employees.

Lattice Semiconductor, which is based in Hillsboro, Oregon, supplies power, small form factor, low cost, FPGAs, CPLDs and Power Management devices.

"This is a truly transformative event for both Lattice Semiconductor and Silicon Image. For the first time in the semiconductor industry, a single company will combine the design flexibility and time to market benefits of FPGAs, with the highly integrated, function and cost optimization benefits of ASSP solutions. We are excited to move forward with Silicon Image and confident we will be able to drive higher revenue and earnings growth, through the benefits of better economies of scale and material cost synergies. We expect this transaction to be immediately accretive on a non-GAAP basis," stated Darin G. Billerbeck, Lattice Semiconductor's President and Chief Executive Officer.

http://www.latticesemi.com/About/Newsroom/PressReleases/2015/201504LatticeSiliconImage.aspx

0 comments:

Post a Comment

See also