Lattice Semiconductor to buy software firm AMI in $1.65 billion deal

May 4 (Reuters) - Lattice ‌Semiconductor will ​acquire ​AMI in a $1.65 billion deal, it said on Monday, as the chipmaker ‌looks to expand into the software ⁠and artificial intelligence management space.

"AMI's expertise in firmware and ‌infrastructure for cloud and ‌AI is a natural extension of our portfolio, deepening our role in system-level security, ​manageability, and control," said Lattice CEO Ford Tamer.

• Under the deal, Lattice will ⁠acquire AMI for $1 billion in cash and around $650 million in ​shares.

• AMI is expected to generate over $200 million in revenue in 2026.

• The ​deal is expected to ‌close in the third quarter of this year.

• The acquisition adds to ⁠Lattice's trajectory towards more than $1 billion in annual revenue run rate by the fourth quarter of ⁠this year.

• Lattice makes chips that are very small, ​power efficient, and can be reprogrammed after manufacturing, making them flexible and useful across various industries.

• Georgia-based ‌AMI is currently majority owned by THL Partners, a middle-market private ‌equity firm.

• Lattice expects the acquisition to ⁠add to gross margin, ‌free cash flow ​and earnings per share, on an adjusted basis.

(Reporting by Zaheer Kachwala in ‌Bengaluru)

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