Darin Billerbeck, Lattice’s president and CEO, said: “This transaction is the culmination of an extensive review process with our board, financial and legal advisers. It delivers certain and immediate cash value to shareholders, while reducing our execution risk. We are excited to leverage Canyon Bridge’s resources and market connections as we enhance our focus on executing our long-term strategic plan of continued innovation.”
Ray Bingham, Canyon Bridge’s founding partner, added: “Lattice’s low-power FPGA franchise, along with its video connectivity and wireless solutions, make it a compelling, strategic investment. We expect the company will continue to leverage its existing customer relationships with major OEMs globally, while further broadening the role of its technology solutions and accelerating its strategic plans.”
Upon completion, Lattice will be a standalone subsidiary of Canyon Bridge and the existing senior management team will remain in post.
Earlier this year, Lattice appeared to be an acquisition target of Chinese investment group Tsinghua Unigroup, which bought about 10% of the company before offloading half of its investment shortly afterwar