Lattice Semiconductor to Acquire AMI for $1.65 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 04 2026
0mins
Lattice Semiconductor announced it has entered into a definitive agreement with THL Partners to acquire AMI, a player in platform firmware and infrastructure manageability for cloud and AI, creating the industry's most complete secure management and control platform. The planned acquisition advances Lattice's strategy to expand its position in server, AI, and cloud applications spanning hardware, security, manageability, and control. Lattice expects the acquisition to be accretive to gross margin, free cash flow, and EPS on a non-GAAP basis, and it supports Lattice's trajectory toward a $1 billion+ annual revenue run rate by Q4 2026. Under the terms of the definitive agreement, Lattice plans to acquire AMI on a cash-free/debt-free basis for total consideration of $1.65 billion, consisting of $1.0 billion in cash and approximately $650 million in shares of Lattice common stock, subject to customary adjustments set forth in the definitive agreement. Pursuant to the definitive agreement, the number of shares of Lattice common stock to be issued adjusts based on the trading price of Lattice's common stock prior to the completion of the acquisition, subject to a minimum of approximately 5.2 million shares and a maximum of approximately 6.1 million shares, which includes certain Lattice equity awards to be granted to AMI employees with an estimated aggregate value of approximately $57.3 million based on the closing price of the Company's common stock as of May 1, 2026 of $120.96. AMI is expected to generate over $200 million in revenue in 2026. The transaction is expected to close in the third quarter of 2026, subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals.
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Analyst Views on LSCC
Wall Street analysts forecast LSCC stock price to fall
10 Analyst Rating
9 Buy
0 Hold
1 Sell
Strong Buy
Current: 151.920
Low
74.00
Averages
80.11
High
85.00
Current: 151.920
Low
74.00
Averages
80.11
High
85.00
About LSCC
Lattice Semiconductor Corporation develop technologies that monetize through differentiated programmable logic semiconductor products, silicon-enabling products, system solutions, design services, and technology licenses. The Company is focused on solving customer problems across the network, from the edge to the cloud, in the communications, computing, industrial, automotive, and consumer markets. It also serves its customers with intellectual property (IP) licensing and various other services. Its product development activities include new proprietary products, advanced packaging, existing product enhancements, software development tools, soft IP, and system solutions for applications such as edge artificial intelligence (AI), wireless and wireline infrastructure, platform security, and factory automation. Its field programmable gate array (FPGA) devices enable it to provide its customers with a strong, growing base of control, connect, and compute technologies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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