Lattice Semiconductor announced it entered into a definitive agreement to acquire AMI from THL Partners in a transaction valued at approximately $1.65 billion.
According to the companies, the acquisition will combine Lattice’s low-power FPGA technology with AMI’s platform firmware and infrastructure manageability software focused on cloud and AI systems. The combined platform is intended to provide secure management and control solutions for datacenter, cloud, AI, communications, industrial, and embedded computing environments.
AMI is a provider of platform firmware and infrastructure management solutions used in cloud and AI infrastructure. The company develops technologies to help customers manage data center complexity, system uptime, deployment, security, and hardware control.
The transaction consideration includes approximately $1 billion in cash and around $650 million in shares of Lattice common stock, subject to adjustments tied to Lattice’s stock price prior to closing. The deal is expected to close during the third quarter of 2026, pending regulatory approvals and customary closing conditions.
Lattice Semiconductor said the acquisition is expected to be accretive to gross margin, free cash flow, and non-GAAP earnings per share while supporting the company’s goal of surpassing a $1 billion annual revenue run rate by the fourth quarter of 2026.
According to the company, AMI is expected to generate more than $200 million in revenue during 2026.
Lattice Semiconductor develops low-power programmable semiconductor technologies used across communications, computing, industrial, automotive, and consumer markets. The company has increasingly focused on AI infrastructure, cloud systems, security, and edge computing applications.
AMI is currently majority-owned by THL Partners, a private equity firm focused on technology, healthcare, and financial technology investments.
The companies said the combined platform will maintain support for open, silicon-agnostic, multi-vendor infrastructure deployments while expanding capabilities around secure management, predictive maintenance, and accelerated system deployment.
KEY QUOTES:
“Our acquisition of AMI advances our everywhere companion chip strategy and shared vision to deliver secure management and control solutions that help customers deploy complex systems faster and with greater confidence, with expanded design choice and flexibility.”
“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. We expect our combined capabilities to create significant value for our customers and shareholders.”
Ford Tamer, President & CEO, Lattice Semiconductor
“Lattice and AMI share a long history of collaboration and a common vision for secure system design. This combination allows us to build on that foundation, extending the reach of AMI’s platform firmware and infrastructure manageability solutions while maintaining the open, silicon-agnostic, multi-vendor support our customers value.”
“Together, we believe we can deliver more complete and integrated management and control solutions for the systems being designed today, and tomorrow.”
Sanjoy Maity, CEO, AMI
